At BrilliantRead Media, we always strive to bring meaningful and powerful stories from India and around the world to empower and motivate our growing community. As part of this endeavor, we invited Mohit Goel for an exclusive interview with us. Mohit is a Leader, Entrepreneur and The Founder of MFolks.com. Let’s learn more about his incredible journey, background, and advice for our growing community!
Excerpts from our exclusive interview with Mohit;
We are aware of your contribution to the ecosystem, talk us through your background and your journey as an entrepreneur, please;
I come from a background deeply rooted in entrepreneurship, being a third-generation entrepreneur. My journey began immediately after completing high school when I joined my family business in April 2013. Simultaneously, I enrolled in an evening batch at Bhartiya Vidya Peeth for graduation.
At the age of 18, in November 2013, I took a bold step and launched my first venture named MartWaves, focusing on selling through eBay. This was followed by the launch of Desichain in April 2014, an e-commerce venture specializing in everything Indian with a global reach. Balancing these ventures with my studies proved challenging, leading me to make the decision to drop out of college in December 2015.
Despite facing challenges, I continued to innovate and launched Mart366 in January 2016 and SoftRupaya in February 2016. However, these ventures didn’t yield the expected results, prompting our exit in December 2016 and August 2017, respectively. I then in September 2017 transitioned to joining my family business full-time, which is an MSME manufacturing unit specializing in Aluminum products.
This experience revealed the struggles MSMEs face in procurement, capital constraints, and outdated technology. Motivated by these challenges, I envisioned MFolks, an AI-driven B2B procurement platform tailored for MSMEs.
What attracts you towards entrepreneurship instead of a corporate career?
Entrepreneurship offers a unique opportunity to shape one’s destiny, create something impactful, and contribute to the community. The dynamic and challenging nature of entrepreneurship, along with the potential for innovation and growth, has always appealed to me more than a traditional corporate career.
‘MFolks.com’ is such a unique name; talk us through more about it, please. Our audience would also love to know what kind of problem you are solving?
The name ‘MFolks’ reflects our commitment to bringing together and empowering the Micro and Small Enterprises (MSMEs) community. It signifies a sense of belonging and collaboration.
At MFolks.com, we address the critical challenges faced by MSMEs in procurement, capital constraints, and outdated technology. Our platform leverages artificial intelligence to streamline and optimize the B2B procurement process, enabling MSMEs to compete more effectively in the market.
What does your company specialize in?
MFolks.com specializes in providing an AI-driven B2B procurement platform tailored specifically for Micro and Small Enterprises. We focus on enhancing efficiency, reducing costs, and empowering MSMEs to overcome the challenges they face in the competitive business landscape.
How do you manage to keep going despite the challenges? What drives you?
The challenges encountered in entrepreneurship serve as valuable learning experiences. What drives me is the desire to create meaningful solutions and make a positive impact on the MSME community.
The belief that our platform can transform the way these businesses operate and thrive motivates me to overcome challenges and continue pushing the boundaries of innovation.
Who do you believe has been the biggest source of motivation in your daily life?
My family, especially my Parents, has been a constant and unwavering source of motivation. Their support, guidance, and belief in my abilities have been instrumental in my entrepreneurial journey.
What are some of the strategies that you believe have helped you grow as a person?
Embracing failure as a stepping stone to success has been a crucial strategy. Learning from setbacks, staying adaptable, and consistently seeking opportunities for growth have been key to personal development.
Networking and learning from industry peers and mentors have also played a pivotal role in my growth as an entrepreneur.
In your opinion what are the keys to success?
The keys to success, in my opinion, include a relentless pursuit of innovation, resilience in the face of challenges, a strong focus on customer needs, and the ability to adapt to changing market dynamics.
Building a dedicated and motivated team, fostering a culture of continuous learning, and maintaining integrity in business practices are also essential components of success.
What advice would you give students and young professionals who want to have a successful career?
My advice would be to embrace challenges as opportunities for growth, be open to learning from both successes and failures and constantly seek ways to innovate. Building a strong network, seeking mentorship, and staying true to your values are also crucial for a successful career.
Last but not least, what are the three most important lessons you have learned in your life?
(a) Embrace Failure: Failures are not setbacks but stepping stones to success. Learn from them, adapt, and use them as opportunities for growth.
(b) Innovation is Key: Continuously strive for innovation in your endeavors. The ability to adapt and bring new ideas to the table is a cornerstone of success.
(c) Integrity Matters: Uphold ethical standards in both personal and professional life. Building trust and maintaining integrity are essential for long-term success.
BrilliantRead is committed to bringing stories from the startup ecosystem, stories that reshape our perspective, add value to our community and be a constant source of motivation not just for our community but also for the whole ecosystem of entrepreneurs and aspiring individuals.
Note: If you have a similar story to share with our audience and would like to be featured on our online magazine, then please write to us at [email protected], we will review your story and extend an invitation to feature if it is worth publishing.
