Life in catch 22 : Newgen Founder
WORDS WITH NIVETHA (FOUNDER OF NEWGEN)
1. What was your mindset about entrepreneurship 5 years back?
This journey started during my final year of college i.e. 2013. Even though I was placed in a firm, I was always inclined towards starting my own business. Since I had no funds to begin with, I looked into my hobby and converted in to business. From school days I was interested in craft which made me look into jewellery designing. My grandparents always used to support me and were my source of encouragement. I started selling my handmade jewellery to shops and to my friends. I started social media advertisement to reach as many people as I could but due to lack of knowledge, things started falling apart.
After a few months, I was working in a software company which affected the functioning of my business adversely. Though I was working with a secure future in a great firm, a part of me wanted to go back to my passion because in my heart, I knew that I wanted to do was business. I decided to do business in my free time. I started registering as a seller in marketplaces and got a positive response. My parents and brother helped in sourcing and packing the products and when I felt a steady growth in my business, I resigned from my job and devoted myself to my own business.
2. Many young entrepreneurs always worry about their pockets. How did you manage your funds?
I was able to make good sales from many marketplaces. I also got funding from several loan partners. Though I started in jewellery category but later I expanded to baby items, toys, watches etc. I helped the newcomers to set up their business with my experience and knowledge. After I assisted so many sellers, I was overwhelmed by their positive response. Through word of mouth, I got more clients and I started a brand new business under the name of Newgen( http://www.newgenmax.com ) providing E-commerce services to sellers.
3. What are your current business plans?
I have expanded my operations to Website Development, Digital Marketing, Content Writing, and Product Photo shoot and many more. I have also tied up with Amazon in helping other sellers with all activities on Amazon.
4. How has your journey been till now?
At all point in time, I have had hurdles and financial pitfalls. Every time I had a negative element in my life or business, it made me think about my actions and I converted the negative energy into fruitful business and the results came out very worthy.
Thank you Nivetha ma’am for telling abour your struggles and about your business model.