Saurabh RaiCEO of Surpluss.in Published On: Tuesday, May 10, 2016 Views 3424

The market of surpluss in electronics, mobile, apparel and consumer durable alone is over $ 20 Bn. At any given point of time at least 10 % of these categories qualify for surpluss, overstock, ageing inventory, refurbished etc. This market fascinated us and today we can see that it has become a kind of flywheel. The momentum, the acceleration — it all shows the potential.

My life Mantra is seeking success with integrity. I would like to be known for the goodness that I was able to render to those I was privileged to interact with.

Convincing vendors for sourcing of electronic products including mobiles and accessories in a marketplace model is a challenging task for startup. In lifestyle it is fairly easy to get products catalog but for mobiles and other categories it required more effort. Fast reduction in prices due to technology changes in market is one of the major reasons for this. In short, sourcing ethically refurbished products and educating the customer about the additional value proposition has been the basic challenge throughout.

Initially, we started with inventory led model. Recently, we moved to marketplace and now tying up with vendors for selling their products. We have been able to on board great brands and vendors as an initial start and we are eyeing more in the near future. We are also running campaigns to grow the awareness of recommence proposition.

We are still bootstrapped and seeking series A funding. Our plan is to become operating positive soon and expect that with the madness of deep discounting coming to an end investors will see value in a profitable business.

There is a huge brain drain going on with the innovators. Every innovator and entrepreneur these days is seriously considering either creating their own start-up or taking chance to work at one.

Innovation being one of our core value, we respect the innovators and understand well about the exceptional set of “job and company selection factors.” It is important to modify the recruitment process to bring the best out of the innovator. Thus, opportunities of career advancement, job rotation, flexible timings, job sharing, Cross Functional Training, Health and Medical Benefits, Floating leaves along with Reward and Recognitions are what our HR Lead Nitika nurtures. She has always strived to create an environment that fosters trust, collaboration and high ethical standard.

We at Surpluss believe that continuous excitement of building rather than fixing, knowing and having access to WHY’s, rapid approvals to valuable ideas and independent decision makings itself are the driving factors to reduce the attrition rate and `motivating people to stick with us. Therefore, mentoring, counseling and development of employees is ensured on a continuous basis across the company by all managers.

Integrity, Innovation and Humility

• Integrity: I am fully responsible for my words and actions.
• Innovation: I am fearless in trying new things or ways, responsibly.
• Humility: I am never arrogant and ready to learn or self correct.

I want to be present on all social networking sites where I can advertise and promote Surpluss. Obviously, the first choice is my own app and websites namely, www.surpluss.in & www.bizpluss.in .In addition, I love the professional and social networking sites- Facebook, twitter, Linkedin and yes answer to interesting questions on Quora.

My ability to delegate and trust people makes me more productive.

I would want to be a hard task master; more often the human side takes over the pragmatic tough decisions.

• One tip to success:

One must take responsibilities, be accountable and follow their  instincts.

• One mistake you believe every individual must avoid:

Never compromise on ethics and values

• One most important lesson that you have learnt till now:

Choose your partners and associates wisely and those having complementary skills and shared values.

We aim to double our revenues every year and will become operationally positive by 2018. The idea is to have 20000 retailers onboard and also leverage the trade surpluss in a hyperlocal model.

I love US , UK and Kerala . I do a lot of religious tours too mostly to Vaishno Devi.

I would get into entrepreneurship early. I have seen many waves and opportunities pass by before I could make up my mind to take plunge.

“Entrepreneurship is a journey not an outcome where success is subtotal of your inputs and there is no shortcut.”