This week we spoke to the co-founder of CityFurnish, Neerav Jain, to know more about the startup, his journey so far as an entrepreneur and the way forward. He founded CityFurnish in 2015 which is now one of the Leading Furniture and Appliances Rental Brands in India. CityFurnish was also picked up by the prestigious US-based Y-Combinator. It recently raised over $5 million in Series A round of funding from a group of investors. RentoMojo, Furlenco and RentOnGo are some of its major competitors.
Let’s read more Neerav, his startup and his advice for entrepreneurs!
Excerpts from our exclusive interview with Neerav:
Tell us a little bit about your background, please;
Prior to making headway into entrepreneurship, I was majorly involved in my family run furniture business in Jodhpur. Wherein, I was majorly involved Marketing and Business development and formulating strategies for business growth. Before venturing into my own startup, I was associated with Pepperfry for a short span as Export Manager.
Where did the idea of CityFurnish come from?
My family has been into the furniture business and exports. I was always inclined towards knowing the old school model furniture market, which later on brought the seed of creating something new out of the existing model.
Why did you choose entrepreneurship over a job?
I had done my internship at Pepperfry before stepping into entrepreneurship. Coming from a business set of a family I was aware of the market business model and wanted to cater to the consumer service sector.
How do you find the industry/niche that you’re in?
The rental and sharing industry is growing at the highest pace. It is predicted to be one of the fastest booming economy and substantial as well. Since it is a consumer catering industry, it’s as vast as the demand and diversification of consumer’s choice.
What gets you out of bed in the morning i.e. what’s your source of motivation?
Passion, my work and industry is something that I have always followed and majorly been surrounded. I look forward to a new day and challenges.
What challenges/obstacles did you face in your journey so far?
One of the major bottlenecks at the early stage was to choose the right set of people and creating the team. The skillset is very imperative and it took us a bit of time to build a core like family so that we can devote time and effort to build a culture and that will help us in the long run.
What are your expansion plans?
In the year 2020, we plan to start our operations in Hyderabad, Chennai and Chandigarh in the first quarter. Subsequently other cities. The expansion will also focus on product variants, subscribers and categories of services on the basis of the market and demand growth.
How do you handle the pressure and manage stress?
Managing stress is like devoting time to another side of life, it usually goes by keeping an eye on market trends or networking with the right set of people. Pressure, as such, doesn’t really serve any purpose and I do not really take it as a suppressing aspect.
What is one strategy that you believe has helped you grow as a person/startup?
Premium quality service and building a good relationship with the subscribers and provide the best of post-sales service has been one of the steps that have helped to grow us in the business.
In your opinion what are the keys to success?
It doesn’t come easy but if you keep your focus and stay passionate at what you do, your actions will get resulted in success. The rest flows and follows.
What advice would you give to someone starting out?
Just keep your ideas and vision clear. The dedication and roadmap will help in placing you at the right place.
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