Arjun BajajCEO and Founder, Daiwa Published On: Tuesday, August 22, 2017 Views 15441
"If you channelize all your energy into reaching your goal, success will automatically follow you"
Upholding the philosophy of creating one’s own roadmaps, Mr. Arjun Bajaj begun his entrepreneurial journey with Daiwa in 2016. (From the house of Videotex India which has been in the Industry for over 33 years) At Daiwa, he is largely responsible for leading the company’s expansion into India.In a short span; Arjuun has overhauled the company into one of India’s largest conglomerate.
What inspired you to build your product/ service?
The Birth of Daiwa was actually in sync with the ongoing problem in the TV Industry. Most of the brands, if you see, are sourcing their final products from China and assembling it in India but very few brands were truly ‘Make in India’ nor are their features and functionalities designed as per the needs of the Indian audience. At the same time period Videotex (The Group Company of Daiwa) is one of the popular ODM Brand making TV’s for several others, with complete back end integration. Blending both the situations, we started Daiwa which is a complete Made in India TV, Made for India.
What was the most challenging part of your journey till now?
For Daiwa, the challenge was not just the International brands but also Indian Brands. Daiwa is positioned in the market to bring the best at best prices. It’s synonym to bringing affordable luxury to the end consumer. Given the presence of the competitor brands in the industry for a long while, Daiwa did see resistance. Besides struggling to make a name for ourselves, we faced challenges like price wars in online business. Competing brands keep reducing the prices with cheap imported TVs. However, we have overcome our challenges by best packaging, manufacturing in India to become one among India’s top selling online brands.
Please provide a brief overview of your product/service?
We promise to provide value for money to customer in addition to best in class technology. Daiwa’s main objective is to break the myth that the finest products only come at a hefty price. The company prides itself on offering state-of-the-art technology at low price points. The reason Daiwa’s TVs are top sellers could be that they are 50 per cent cheaper than big brands and offer the same technology. For instance, Daiwa offers 1GB RAM and 8GB internal memory on TVs as compared to the 512 MB RAM other companies provide. Also we have been making motherboards for TVs in India with over 2000 TV Sets manufactured in a day.
What is your life mantra?
I try to live a disciplined life with targets and goals. Besides striving to be punctual, I try to adhere to this simple mantra; Work hard and remain focused on your goal. I believe that difficulties will arise along the way but it is important for us to remain undeterred and never lose sight of the prize.
How did you overcome initial mindset challenges?
I always fell back on my family; my dream just was my ‘idea’ but supported truly by my father who made me understand the difference in an Idea and making it the Business. They supported me throughout and always encouraged every decision I made. I owe my success to them.
According to you, what are the three qualities an individual must have to achieve success?
For me, the three most important qualities are having an ethical approach, passion and vision. A person should be passionate to follow his dreams. It is also important that this goal is realistic enough to achieve and for this very reason, we should have a vision and a plan.
Which online tools/ services/ apps do you use the most and would like to recommend as well?
I use Whatsapp to remain connected to people and other social media apps and news apps like TOI, ET, NDTV, etc mostly. I would like to suggest Amazon Prime video and Netflix for users as they allow users to watch their favorite shows and series.
Share one habit that makes you more productive.
I like to think of myself self as a very head strong and focused person. Once I set a goal, I make sure I achieve it. Daiwa is that goal in my life which I seek to take to the top and make it one of the top brands in India.
Answer in less than 50 words
One tip to success:
Stay focused on your goal. People often chase success and often end up disheartened if something goes slightly wrong. I think if you channelize all your energy into reaching your goal, success will automatically follow you
One mistake you believe every individual must avoid:
Never do expenses above income
One most important lesson that you have learnt till now:
One of the most valuable lessons I have learnt along the way is that we can all build castles in the air but it is important to be practical and have a realistic approach to situations, this and working hard towards something is what I have picked up through the years. If you have made a mistake, you should learn to owe up to your mistake rather than denying it.
What are your plans for next 3 years?
For the next three years, I am whole heartedly focusing on expanding my company and make it grow three-fold. I see ample opportunity and potential in in the market. It is achievable.
What are your top three getaway destinations?
London in UK, Marbella in Spain and Colchester in Essex.
If you get a chance to start your career again what would you do differently this time?
I wouldn’t want to start over. I believe the mistakes that we have made have brought us to where we are today. It has in a way strengthened us. To quote the famous Thomas Edison, “There is great value in disaster.”
Share a quote that inspires you the most.
One of the most inspiring quotes I have stumbled upon is Scott Fitzgerald’s “Never confuse a single defeat with a final defeat.” This has been my motto and has always kept me going. I reap maximum motivation from this quote.