Manish is a visionary with an expertise in private equity, financial modeling, valuation and equity research. He has a dual degree (B.Tech and M.Tech) as well as Passed CFA level 3 in finance. He always had vigor to grasp more knowledge, which according to him is paramount for success. He started his career as an intern at Ittiam systems. In addition, he later went on to become analyst at various big corporations.
His stint at entrepreneurship came in the form of Purplle when he took cognizance of the growing demand of ecommerce within the country. Purplle is an online beauty ecommerce website. It has a large range of cosmetic and natural brands with free shipping available.
What inspired you to build the above product/ service?
There is massive fragmentation in the beauty industry in both products and services at the supply side. Hence it is apt that an internet platform disrupts the fragmentation and helps users discover the right products and services for themselves. This is what inspired us to build Purplle.com.
What was the most challenging part of your journey till now?
Getting started was the most challenging part. In the initial 4-5 months of your business, you keep pushing the rock but it does not move. But once it starts moving, it starts to snowball. The learning there is don’t lose patience, to keep pushing, keep working hard and one day the rock will move and snowball.
Please provide a brief overview of your product/ service.
Purplle.com is India’s #1 Beauty Destination. We are an ecommerce platform that lists beauty products as well as salon services. We also host a variety of beauty inspirations in the form of Collections, Articles and Videos.
What is your life mantra?
My life’s mantra is very simple – Spend enough time with the problem and the problem will get solved on its own.
Share some details about the investments that you have been able to fetch for the business till now.
We have raised 3 rounds of institutional capital. First one was in 2013 from Blume Ventures, The Chennai Angels and Mumbai Angels. Second one was in January 2015 which was led by IvyCap Ventures. The third one is in July 2016 lead by JSW Ventures.
How do you protect yourself from the problem of Brain Drain?
Between the co-founders, we spend a lot of time with our employees. Also, we believe in making the expectations clear from people and ensuring that they are able to measure themselves. This enables us to keep our employees aligned and motivated towards the company.
According to you, what are the three qualities an individual must have to achieve success?
I think one must have perseverance to be successful in life. If you persevere, things will move.
Which online tools/ services/ apps do you use the most and would like to recommend as well?
I use Google calendar the most. I note down all my appointments and hence I am able to finish things on time.
Share any one habit which you think makes you more productive.
Every night, before going to bed, I try to spend 15 minutes thinking about the day that went by and things I have scheduled for the next day. I plan for every week and every day which helps me keep track of the projects we are working on and that we are able to complete them on time.
Share any one habit which you wish to change in yourself.
One habit that I want to change is that I check my e-mails too often. I want to reduce that!
Answer in less than 50 words
- One tip to success: Perseverance!
- One mistake you believe every individual must avoid: Hiring for skill vs. hiring for attitude.
- One most important lesson that you have learnt till now: Hire for attitude and not for skill.
What are your plans for next 3 years?
We want to keep building Purplle and take it to Rs. 1000cr business and make it topline by the year 2020.
What are your top three getaway destinations?
I haven’t holidayed a lot, but I definitely love to visit Goa.
If you get a chance to start your career again what would you do differently this time?
If I get a chance to start my career again, I would focus on solving the real problems and not be driven by glamour and money to pursue a job.
Share a quote that inspires you the most.
“Don’t worry about failure; you only have to be right once.”