I believe in Evolving. Evolution is key. Progress makes people happy, and this includes personal progress.
Vivek Pahwa studied mechanical engineering at the University of Michigan and did an MBA from the Indian School of Business, Hyderabad. He is the founder of Accentium Web Pvt Ltd, which has successfully incubated several internet companies, including DesiMartini.com (acquired by HT Media Ltd), Gaadi.com (acquired by Naspers), SecondShaadi.com, and AdLift. PriceRaja.com is Accentium Webs latest venture. Vivek Pahwa was awarded the Best Young Entrepreneur in 2008 by BusinessWeek Asia.
Where did the idea Priceraja come from?
Undoubtedly, online shopping (slowly and gradually) has become an indispensable part of peoples lives in India. A decade back, nobody could imagine shopping online. But, now with emergence of so many online shopping sites, there is a lot of confusion in the buyers’ mind as to which product to choose and where to buy it from. Have I selected the right product? Am I buying it for right (lowest) price? To solve this issue, we started PriceRaja to help people pick the right product and the right shop to buy it from. We do product comparison, price comparison and deal aggregation for online stores in India.
What does your typical day look like and how do you make it productive?
It is a normal day like everyone else. However, one thing I am mindful of is to make myself better,better at making decisions, better at hiring the right people, better at strategy, better at execution, better at people management etc. This non only increases productivity over time but also makes sure that we are heading in the right direction most of the time. Reading a lot about what is happening in this space in India and across the world and talking to peers is an important part of my work day. Also managing my todo and overall priority list is key in ensuring good execution.
How do you bring ideas to life?
I am a spectator of everything going around the globe. Usually, there is no short cut or pre-defined formula to extract any idea from your brain and implement them for the world. It is a process. When this idea came to my mind, that time I was juggling from sites to sites to know the best mobile phone to buy online. And, I believe an idea becomes great when it helps you and others at the same time.
What’s one trend that really excites you?
The convergence of robotics, artificial intelligence, virtual reality, 3d printing, renewable energy and many advanced technologies at the same time. What we’ve dreamed of the future, is all happening together and fast and gaining momentum.
What is one habit of yours that makes you more productive as an entrepreneur?
I write down a very extensive to-do list. It removes the burden of remembering things, I can always just look up the list and figure out if any of the prioritizes need to change and then get down to it. I look at it several times a day, and the ordering and priority of things on it is constantly changing. New tasks are also constantly being added it.
What was the worst job you ever had and what did you learn from it?
Every task I do is my job. Sometimes I fail and sometimes I don’t. In my opinion, there is no term ‘Worst’ when it comes to carrying out tasks. You always plan and execute things to your best knowledge. But at times, things don’t reciprocate in the same manner. There are external factors that affect our decisions and plans. And, I am no different. What I have learnt so far? Hardwork, perseverance and patience lead you to achieve success.
If you were to start again, what would you do differently?
In every business, there comes a time when your outcome/ productivity stands still and you need to analyse and re-strategise your old, previous plans to give a boost to the stagnant pace of your business. Keeping this in mind, I always keep re-designing, re-drafting and re-strategising my plans at regular intervals to keep the momentum going upward. I am always into trying out new (obviously better) ideas and implementing them. So, to do things differently, it is not necessary to start everything from chapter 1.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
I believe in Evolving. Evolution is key. Progress makes people happy, and this includes personal progress.
What is one failure you had as an entrepreneur, and how did you overcome it?
We face failures every day. As an entrepreneur you face so many challenges and failures that over time you become sort of immune to them, and you have to because if you take them too seriously you will not persevere to the point of success.
What is one business idea that you’re willing to give away to our readers?
Using Virtual Reality for solving problems where face to face meetings are difficult, for example first round of an interview with someone in another city. It adds a depth (literally) which skype fails to do.
What is the best $100 you recently spent? What and why?
I invested in buying a good pair of virtual reality goggles. I want to understand where that technology is today and how it is likely to change our life and businesses in the future. I believe as the technology evolves, it could have significant impact.
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Priceraja on Twitter: @priceraja
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.