Yogesh, NEN E Leader at Saveetha Engineering College, thought he had figured his milkshake shop. He'd budgeted for Rs 16,000, got three friends as investors and lined up two E Cell members for help. It was all set to launch on September 23, just in time for the college’s annual fest.
But everything went wrong.
- His costs doubled to Rs 34,000
- Volunteers didn't turn up for help
- Broke and left with a half-done stall, the launch didn't happen
How many mistakes did Yogesh make? Only one: Armchair research.
Who did he interview while planning? Two juice shop owners in his hometown Kanyakumari (none in Chennai). How did he write his B Plan? He referred to the B Plan of a machine tools company. How did he build his team? He picked the first three E Cell members who volunteered.
Yogesh failed because he did not get out of his comfort zone to engage with the real world.
But importantly, Yogesh took the lessons in his stride and successfully rebuilt his milkshake startup, with the support of the management and SEC NEN E Cell. He also took a loan from his mother and reconstituted his team. Today, Fluids records Rs 1,500 in revenues a day. :)
This article is published in the NEN 360 newsletter, December edition.
Check it out here