Trend is towards startups, in India and across the world. Two most important must-to-have elements for any successful startup are ideation with a clear strategy and will of the entrepreneur. In an exclusive interaction with Mr Puneet Rawat, Founder of LUDIFU (Let Us Do It For U), Faiz Askari of SMEStreet found some interesting facts about an innovative business idea along with a clear willful commitment of an entrepreneur. Candidly, Puneet explained several critical aspects of today’s e-commerce industry and his plans to make an solid impact on this turf.
Faiz Askari: What are the key trends you are observing in the online commerce?
Puneet Rawat: Key Trends would be Unique products, which are eye-catching. Very few are interested in just a regular e-commerce website. Now, everyone's asking the Entrepreneur one question, "What do you have, that's gonna "wow" me?" - People are now looking for the "Wow" Factor in products.
How the consumers are getting hooked towards online in today's scenario?
Depending on the age bracket different consumers behave differently towards today's online scenario. There is still an entire generation which believes in touch and feel before buying and then there is one, which has complete faith in the website itself. But, the faith and trust in Websites is increasing with time
You have developed an interesting app for photo prints. Please highlight the unique quotient of this app.
Thank you for the compliment. Unique Points would be a couple of features bundled together that make it a complete product. Price, Size, Perforation, Binding and Ease of Upload. This is the only app in the market which doesn't allow customisation of any kind, this helps the user simply upload their pictures and get what they want. Quick and easy.
There are already quite many apps which let you add effects, people are brilliant at the moment; editing the effects in one app, saving it to their gallery and uploading them on the LUDIFU application.
Now, everyone's asking the Entrepreneur one question, "What do you have, that's gonna "wow" me?" - People are now looking for the "Wow" Factor in products.
There are online platforms, which offers almost similar offerings of getting photographs printed and delivered at the doorstep. How would you differentiate from them in terms of addressing this vast market?
As of today, there are quite a few applications doing something similar. However, no one is willing to risk not offering customisation. We have made a bold move of doing so and its worked quite well so far. We already have repeat customers :) And the best part is none of the orders are from friends and family (supportive orders) besides one from my dad.
Price is not the only differentiator and at the same time it is. As of today, based on simple MRP pricing without any discounting, we are the most value for money product.
Please discuss, some of your initial days of startup. How the initial funding was generated?
The initial funding was given by my mausaji, Mr Prithvi Haldea. I have been an admirer of internet related businesses for a while however, none of them have worked out so far. I have had 8 successful failures which have taught me dearly.
I would always bounce ideas of mausaji and he wouldn't ever find any of them catchy enough to say yes and finally, it was a yes for LUDIFU. Within a few minutes of sharing the idea, he gave Rs. 1500 and said, this is my Angel Funding - start working on this. And Voila !! LUDIFU was born
Are you looking for further investments?
Yes, as a start-up we are openly looking for investments.
Please share some numbers regarding the users engagement with your app. What are your next level plans for expansion?
We have crossed over 500 downloads within 20 days of launching the application. The same can be seen on the Google play store. We plan to stay with this product for a bit more time, while adding more features to the same in the next 3 months. We shall introduce more products with time.
We wish to be a one-stop shop for all nostalgic photo album lovers who don't feel as connected to the digital photo world and enjoy the feeling of a physical copy in their hands (keeping in mind quality and pricing)
Also, what are the key priorities for your business in next six months?
Key Priorities will be:
- Focus a lot customer service - understanding feedback. Customers are the only reason any business survives and their satisfaction is and will remain our priority.
- Continuous innovation within the concept of LUDIFU (Let Us Do It For U)