CA Sunil Shah

Here's how this man from Bihar is ready to disrupt a ₹86,000 Crore industry.

While sipping coffee on a rainy day, Chandrashekhar Mondal looks outside his office window and sees the disparity of life staring at him.

Hundreds of 'majdoors' stood at labour chowks, fighting for their everyday employment. This scene reminded him of his childhood in Gopalgunj, Bihar.

“If there could be LinkedIn, Indeed for white-collar jobs, then why not a platform for these blue-collar jobs?“ with this thought, Digital Labour Chowk was born.

Having ₹20,000 in his left pocket and endless hopes in his right, he quit his job and proceeded with his mission.

Started off by surveying these labour chowks for the first few months, where he could clearly understand that:

-There is a high lack of transparency and access
-High exploitation of lower wage workers
-Inefficiency and delays in not able to find workers in time

To tackle this issue, he:

Made a Facebook group and connected labourers and employers who would post jobs in the group, and the corresponding labourers could connect with them.

His first breakthrough came when he got funding of ₹10 Lac from an incubated firm in Pune, and they used all that to make an easy-to-access app.

To make a difference, he:

-He asked labourers and employers alike to upload their documents and get their profiles verified.
-Connected workers' bank accounts directly to the employers to ensure no payment discrepancy.
-To ensure no unethical practices occur, there was a feedback option that would result in a serious investigation.
-Opened a 24x7 helpline for workers if they are ever in trouble at the work site.

Today, they have over 100,000 active worker registrations with over 2,800 companies listed to provide employment.

Chandrashekhar Mondal single-handedly changed the lives of numerous daily wage workers.

#business #startups #finance #growth #motivation

Your dream market segment is not Gen-Z or millenials anymore. It's elders! Here's why 👉

Funding for Eldercare has jumped exponentially in the past few years.

$1.5 million → 2021
$13.4 million → 2022
$23.8 million → 2023

This is not only it!

The eldercare market in India is expected to reach ₹22,465 crore by 2025!!!

And many startups are already on this golden opportunity!

Companies such 👉

🚀 SeniorWorld: Fully assisted travel company for Elders.
🚀 Emoha: Senior care brand that provides home healthcare.
🚀 GenWise: A community for elders to stay connected and entertained.
🚀 GoodFellows: A Ratan Tata backed company that provides a young companion to elders.

are capitalising on this golden opportunity!

Emoha has grown its users to 60,000 elders from 98,000 in a year, with a retention rate of above 90%.

How?

Elders often show strong loyalty to a single application, unlike Gen-Z who frequently shift between different apps.

This growth is also being driven by several other factors, including

👉The increasing elderly population,
👉The rising number of nuclear families,
👉The growing disposable income of middle-class Indians.
👉NRI kids want to take care of their parents hence fetching for reliable solutions.

The current eldercare market in India is largely fragmented and unorganized.

The segment is relatively small at present, investors are optimistic about its growth in the next few decades

Entrepreneurs who can tap into this demand can build successful businesses.

Did you know about the potential of this industry before?

#eldercare #opportunity #business

Shraddha was 11 when she started helping her disabled father milk buffaloes and supply milk to dairies.
At 24, she turned her father's dairy farm into a successful ₹ 1 Crore business without any MBA or business degree.

Shraddha's father was a buffalo trader and sold milk whenever he had surplus animals.

They could not afford to take this business up full time because of his father's condition and her brother's still a kid.

But it was her hunger to learn more about the milk business that made her push her limits.

To accomplish her mission, she began learning about buffalo trading by travelling with her father.

By 16, Shraddha had earned remarkable business acumen by deepening the intricacies of milking buffalos and tactfully dealing with traders.

But the money needed to scale was still a challenge.

She did not want to take loans and get trapped in the interest payments cycle, which would eat into her profits.

For the first five years, she would

> Milk the cows, and
> Handle the supply chain.

All by herself while also completing her college studies.

While she could scale the number of buffaloes from 1 to 30, she still was not getting enough profit left in the business.

She imbibed careful feeding strategies to improve the milk quality, leading to increased market rates.

Her unshakable willpower and learning inspired her to make 30,000 kg of vermicompost per month.

To make her farm a zero-waste business, she even set up a biogas plant that produces electricity from buffalo waste.

Today, she has climbed to the peak of success by expanding her business from one buffalo to a two-storey farm with 130 buffaloes.

Shraddha's determination to build a sustainable business through her self-learning abilities proved that an MBA is not the only holy grail for successful entrepreneurs.

The only ladder to success is the desire to learn and the diligence to work hard.

India deserves more powerful women entrepreneurs like her.

#business #strategies #women #entrepreneurship #womenentrepreneurs