[quote style=”boxed”]My biggest failure as an entrepreneur was keeping things simple. I wanted to give my customers everything at once through my products, but that was a bad idea. I finally realized I needed to have one simple goal or vision and execute that really well. Once that goal or vision was executed very well, I could focus on adding more value and products for my customers to use.[/quote
Jeet Banerjee is a 20 year old serial entrepreneur, digital marketing consultant, author, blogger, and college student. Jeet created his first startup company at the age of 17 and would go on to sell it a few years later. Since then, Jeet has been on a mission to create a tech empire.
His first tech startup was StatFuse, which helps high school students and their parents with college admissions. After that, he launched Vintelli, which does what all the other directories don’t do. They rank businesses on the search engines and eliminated reviews bringing immense value to companies. Along with all this, Jeet has multiple mobile applications out in the market and his book “The Pursuit of Passion”.
Currently, Jeet is working on numerous new startup companies that will be launching sometime in 2013. Along with all this, he is consulting with numerous businesses. Jeet also speaks at conferences around the nation and gives back to the entrepreneurial community in every way possible.
What are you working on right now?
Currently I am working on a few different projects. I’m very excited with my newly launched company Vintelli and have been focusing on marketing that along with my first startup company, StatFuse. I just had my new book, “The Pursuit of Passion: Entrepreneurs Guide To Turn Hobbies Into Successful Businesses” has been published. I’m also working on growing StatFuse and another company, which will revolutionize the world of couponing.
Where did the idea for your different companies come from?
My ideas have come from all sorts of different places. The idea of StatFuse originated from a bet between my partner & I to see who would get into which schools. After finding no websites solving this problem and aiding students with college admissions, we decided to take on the challenge ourselves.
The idea for Vintelli came from a personal experience I had as an entrepreneur. I had very small marketing budgets, but needed online help. I created this yelp-like directory system minus the reviews to give smaller businesses the opportunity to get visible online for less. We provide search engine optimization for less than $1 a day at Vintelli to help startups across America.
How do you make money?
My company StatFuse makes money through advertising, while Vintelli has an annual subscription that generates us income.
What does your typical day look like?
5 AM: Wake up and check emails.
6 AM-7AM: Take a shower, get ready, and go to class at Cal State Fullerton.
7 AM-10 AM: Classes start
10AM-10:30 AM: Get food and back to the workplace
10:30 AM – 6:00 PM: Working, meetings, and doing anything possible to keep my businesses afloat.
6:00 PM – 7:00 PM: Gym time.
7:00 PM – 8:00 PM: Dinner time, relaxing, and catching up on sports.
8:00 PM – 10:00 PM: Homework and study time for school.
10:00 PM – 12:00 AM: Work with developers out of the country, social media, iPad, and check emails.
12:00 AM: Time to call it a night.
How do you bring ideas to life?
I bring ideas to life through customer development. I have many good ideas, but I only turn a few into businesses. I ask my target market what they feel about the idea and use their feedback to create it. Since all my projects have been web based, I bring my vision to life through the website.
What’s one trend that really excites you?
The web trend is awesome! I think it’s great that you don’t need a huge amount of money to create a website and build a successful business. The internet allows people to connect from all over the world and there’s a lot of opportunities.
What was the worst job you ever had and what did you learn from it?
My worst job and only ‘real’ job was working for my Dad’s software company in Irvine. I loved my Dad and he was a great boss, but I hated being told what to do by someone else. I used to do invoices, pick up phone calls, and manage projects. I don’t know how it was possible, but I screwed up a lot and really hated it. I learned a lot about how to talk with customers, how the business world works, and best of all that entrepreneurship was the only path for me.
If you were to start again, what would you do differently?
I would just utilize the lessons I learned. I learned a lot about how to create something simple before building/growing off of it. I would create more simple things and focus harder on the execution.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
I recommend people to pursue their dreams and turn them into realities. So many people have great ideas, but are timid to put their ideas into action. I always tell everyone that they won’t know how successful something is until they go out and try it!
What is one failure you had as an entrepreneur, and how did you overcome it?
My biggest failure as an entrepreneur was keeping things simple. I wanted to give my customers everything at once through my products, but that was a bad idea. I finally realized I needed to have one simple goal or vision and execute that really well. Once that goal or vision was executed very well, I could focus on adding more value and products for my customers to use.
What is one business idea that you’re willing to give away to our readers?
Here’s an idea straight out of my iPhone’s notepad: Pasta Express. It’s essentially a restaurant idea very similar to Chipotle. Same functionality and same execution, but customers would have the ability to create their own pasta bowl.
If you could change one thing in the world, what would it be and how would you go about it?
I would end poverty. It’s so sad to think there are people less fortunate than us who cannot even drink clean water. I would take it one step at a time and build a team of people to go out and end poverty. If I had all the money in the world, I would make their lives better.
Tell us a secret.
I take a shower before and after the gym. For some reason, I love taking showers and actually take way too many!
What are your three favorite online tools or resources and what do you love about them?
Mixergy – Great website that provides interviews that actually provide insight and information for others.
Quicksprout – Superb blog by Neil Patel that really helps entrepreneurs and business owners leverage the internet.
Basecamp – Allows me to organize my projects with my team and execute with much better efficiency.
What is the one book that you recommend our community should read and why?
Pitch Anything by Oren Klaff. If you read this book, you truly learn what it takes to earn capital from investors or even close deals.
Three people we should follow on Twitter and why?
@RealDonaldTrump – He says some crazy things at times, but he’s very interesting to follow.
@Oprah – She’s just inspirational in every way possible and her tweets are great!
@LakersReporter – I’m the biggest Laker fan ever and they really keep me updated with all the Lakers news.
When was the last time you laughed out loud? What caused it?
I was in a meeting consulting a business owner and he told me, “Do you work in this room? I can’t find one piece of paper here.” I laughed out loud because I did work in that room, but I’m just anti-paper. I do everything digitally that I literally have no pieces of paper on my desk.
Who is your hero, and why?
My hero is my Dad and because he’s always been there for me when I needed help. Starting a business at a young age isn’t easy, but it’s good when you have support from your friends and family.
What inspired you to write your book, The Pursuit of Passion: Entrepreneurs Guide To Turn Hobbies Into Successful Businesses?
As a young entrepreneur, I learned so much in three years of running a business that I had to share tips and strategies with others. I’ve created numerous businesses and have had a few successes. In my successes, I noticed one common formula and I wanted to share that with other entrepreneurs. I take people from idea all the way to execution in teaching them different ways to build a great business.
Jeet Banerjee Consulting on Facebook: www.Facebook.com/JeetBanerjeeConsulting
Jeet Banerjee on Twitter: @TheJeetBanerjee
Jeet Banerjee onLinkedIn:
Mario Schulzke is the Founder of ideamensch, which he started a decade ago to learn from entrepreneurs and give them a platform for their ideas.