This woman entrepreneur’s amazing startup story will help you overcome the toughest of challenges in life

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“I am a big believer in taking chances. I always wanted to experience a different region/market especially while doing my MBA.” – Richi Sood, Founder, Richcharms


H
ow it all began?

I think it is part of our generation’s DNA to explore the world. Being born into an entrepreneurial family made it natural for me to seek this path, but it also made me quite aware of how bumpy the road may be at some points. So it definitely helped me adjust my expectations and realize that I have to be resilient.

In every success story, you will find someone who has made a courageous decision. 

The beginning of something special:

Every multinational company was once a start-up. Every redwood tree was once a sapling and every professional was once a beginner. I am young, curious for knowledge and willing to take the risk of starting a trend than to follow one. I always wanted to meet new people in my life with my own visiting card representing a company’s CEO. Richcharms is a fashion website where we retail Indian Jewellery.


The First Signs:

During my travels, I used to pick up stuff from various places, and my friends would ask where I got them from. That’s when I realized people were willing to buy different types of Jewellery, but didn’t know where to buy them from. That’s how I thought of this.


I Started with Rs 5000 –
Richi

Initial investment? There was no such investment I put in but I still boot-strapped my business with my savings of Rs. 5000. After my MBA, I was uncomfortable in my 9-5 bank job. I thought to switch it and looked for better opportunities. I joined my father’s stock broking business, but then I realized I am not made for cubicle job system and the only way for me is to start my own venture and become my own boss. Belonging from a middle class family, and a small town with less resource, it’s a risky deal to startup so early that too being a girl. But to make a mark, we have to start from somewhere.

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What clicked for “Richcharms”?

Richcharms
is attracting enough customers even when I don’t have a working website. All I’m selling the products are through a super active Instagram Page and Facebook Page. Instagram page has good following and quick response time as well. This online store only keeps apparels, accessories for the young girls. So, the target market is niche, but demanding at the same time.

Managing competition in an unique way:
Competition in this sector is a big risk, as there are thousands of competitors eyeing your customers and profits too.

 Challenges I face:

  – Doing Business Development becomes tough sometimes as the vendors are not easily available and are not accustomed to this business.

– A start-up needs almost 3 years, to sustain the brand and the entrepreneur herself.

– Lot of female competitors, also its difficult for a lady to handle tricky client sometimes, but things get managed by the confidence.

As a Women entrepreneur, I feel liberated, economically independent and at the same time struggling to tackle family pressure and handling a new business. One year has passed and though I have achieved more than I thought, but it’s a long way to go to create a big dent.

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You can follow Richcharms on the web:

Facebook: fb.com/richcharmsstore

Instagram: https://www.instagram.com/rich.charms/

Twitter: https://twitter.com/Richcharms

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