Power Women: ‘Just Do It’ Is The New-age Entrepreneurship Mantra

Women’s Day is just a few hours away but do you have a strategy in place yet to inspire and usher in change? Inspiring the change is the theme of this year and it seems to gel well with the general scenario here in India. The upcoming Lok Sabha polls are expected to bring in some radical changes while businesses are always ready to adopt forward-thinking vision and disrupting practices. If growth and change are very much there on your personal agenda, it may help to listen to those who have had first-hand experience of triumphs and struggles. So in the third part of our Power Women series, Business Insider India chats with Ishita Swarup, co-founder and CEO of 99labels.com. She also runs a separate catalogue site called 9rasa.com, which focuses on ethnic wear.

But before we go ahead, here’s a quick look-back. 99labels was launched in 2009 as a members-only, flash sales site, offering luxury brands in fashion apparel, accessories and a wide range of lifestyle products. Although the concept was both novel and popular at that time, an overcrowded e-commerce space meant tough competition for the digital venture. In another setback last year, institutional investor Info Edge decided to write off its entire investment in 99labels – a sum of around Rs 29.3 crore. Info Edge said the move was made due to asset impairment.

Although media speculations were rife that 99labels could go out of business soon, Ishita and her team have been coping with the turmoil for a year now – re-inventing the business (the flash sales model is gone) and trying to raise external capital to ensure growth. And it surely proves that Ishita not only loves challenges but she would go all out to tackle tough times.

An Economics major from Delhi University and an MBA from IMT Ghaziabad, she started her career with Cadburys and later launched Orion Dialog, a pioneer in the ITeS sector in India. Ishita exited by selling the company to Aegis BPO, part of the Essar Group, and then helped set up a social venture called Sakha Consulting Wings, launched to provide safe transport solutions for women, by women, in urban India. Next came 99labels and the saga continues in spite of ups and downs. What’s Ishita’s view on entrepreneurship and its hurdles? Find out here.

I always wanted to run my own business
As far as I remember, it was always there at the back of my mind. I always wanted to do something of my own. I had quite a few business ideas that I believed would work if they were implemented. And finally, I have always had complete belief that I can make things happen.

Learn to live with ups and downs
It is a given that as an entrepreneur, you will face highs and lows, positives and negatives. On the positive side, I would say, I have experienced success. However small, it makes me happy because I treat it as my personal success. Then, I had the opportunity to do so many varied things and learn from each. I have been extremely fortunate to be able to turn many of my ideas into reality and some into successes.

And the negatives are there, too. As an entrepreneur, there can be excessive stress, especially when things go wrong. There are also times when one feels lonely and isolated and without support. The other thing I miss is the chance to learn from my peer group and/or seniors. But the biggest challenge has been the lack of funds, especially when I am trying to scale the business. Still, one has to cope with these things and get ahead.

Inspiration matters
Because it gives you a different perspective all the time, cheers you up and makes you strong. My inspiration in life comes from the people I meet along the way and from those who are in my life. I find inspiration from my young daughter who looks at mundane things in unique ways and doesn’t take ‘no’ for an answer. My grandmother also inspires me – she was a path-breaker in many ways. My husband leads a disciplined life and I have learnt a lot from him. Then there’s a close friend whose positive spirit is extremely infectious.

Want to start up? Just do it
My only advice for anyone who wants to be an entrepreneur is that if you believe in yourself and your idea, don’t hesitate to take the plunge. Just do it. When you are running your own business, you have a lot of freedom to do it the way you want to. Don’t let go of that opportunity.

Watch this space tomorrow – Power Women will be back with its last but no less intriguing success story.