The real Sharma ji ka beta.
He is the real Sharma ji ka beta. IIT. ISB. McKinsey. VC. And a Business worth ₹42,000 Cr whose name you don't even know. His story is worth reading.
1️⃣ The First Steps Asish Mohapatra is a gifted man. He attended IIT-Kh, ISB, then went to McKinsey, before finally ending up as a VC at Ma But all of his research and study gave him one key insight: About MSMEs
2️⃣ MSME He saw that MSMEs were a powerhouse of our country, contributing to almost 30% of our GDP, and almost 50% of our exports. But guess what? There was literally NO ONE helping them where they needed it the most: Raw Materials.
3️⃣ Raw Materials Raw Material is something EVERY MSMEs needs but hates the process of. If you look, the entire supply chain of raw materials is dominated by the infamous DISTRIBUTORS. Asish wanted to change this.
4️⃣ OfBusiness, for Business He saw that Producers were agonized by the delayed payments from the distributors, and not to mention, the lack of transparency by them. He not just gave them a legal guarantee of payment, but also told them who their customers are, and why they need
5️⃣ OfBusiness, for MSMEs. As for the MSMEs, they were agonized as well. The Distributors often delayed deliveries, had no assurance of the quality, and added their sweet premium to the price. Asish? He hit it out of the park. • He gave them LIVE updates about the delivery •
6️⃣ Oxyzo, Let's go. He noticed that MSMEs want credit the most, but almost half are not even eligible for formal credit! That's why he gave cheap credit of up to 30 days through Oxyzo, And even launched a new business, Oxyzo, which gave longer credit.
7️⃣ NPA? But here's the kicker: Even after giving credit to so-called 'unpredictable' businesses, they have an NPA of less than 1%. How? Because the MSME knows, that if they default, they'd not just lose their credit score, but lose a supplier like OfBusiness, which is nothing
8️⃣ Free Marketing. But to gain customers is a hell of a job. Here's where his genius instincts kicked again. He knew that Government Tenders were a dream for any MSME. But, they are very hard to find and analyze, given the humongous T&C attached. His solution?
9️⃣ BidAssist BidAssist not only helps you view tenders super easily, But also tells if you're eligible for it, and even your probability of getting it! And because it's free, more than 20 LAKH MSMEs registered here, giving them a huge clientele database!
But the biggest thing I learned from Asish is his ability to find and capture every connected market. For eg, because he had data, he saw that sometimes the supply was less. So he started MANUFACTURING those goods, and made it almost 25% of his business!
~
