Neglecting profitability and blindly pursuing sales is akin to self-sabotage: Rohit Singh

Adgully has been turning the spotlight on the entrepreneurs who fought against all odds to bring their dreams to fruition in our special series – START-UP STARS. We, at Adgully, wholeheartedly support the ‘Vocal for Local’ movement and have been featuring numerous local/ homegrown businesses, brands, and Apps in the country launched in the last few years.

Million Cases is revolutionising the world of mobile accessories, taking it to a whole new level and experience. At present, they manage a thriving and leading premium brand, providing the finest materials and stunning designs to create something truly exceptional.

Boldacc, a registered trademark fashion tech accessories brand, operates as a wholly-owned subsidiary of Million Cases. Derived from ‘Bold Accessories’, the name Boldacc was chosen to encompass the wide range of smartphone accessories that Million Cases offers, including charging cables, adapters, wireless chargers, and power banks, among others.

In an interaction with Adgully, Rohit Singh, Co-founder & CEO, Million Cases, shares his entrepreneurial journey along with some key learning and major challenges that the company faced while building this brand, leveraging digital technology, and more.

Please take us through your journey as an entrepreneur. What motivated you to establish the company?

Krishan (Krishan Kumar, CTO & Co-founder, Million Cases) and I began our entrepreneurial journey soon after our college with a successful blog that relied heavily on SEO to attract traffic and generate income. We were doing well until we faced a significant drop in traffic after a Google update to its core SEO algorithm. This was a major setback for us, but we refused to let it deter us from our dream of building a successful business. We knew that we had to pivot and explore other opportunities.

This experience led us to explore the rapidly growing world of e-commerce in India. We saw a need for high-quality, premium phone cases and accessories and decided to launch our own brand, Million Cases, under the parent company Millions Kart. We understood the importance of providing quality products and exceptional service, which helped us to build a loyal customer base.

Through our experience, we learned that being open to pivoting and exploring new avenues when faced with challenges is crucial for success. We also realised that hard work, perseverance, and quality are essential elements of building a successful business. These values have been the backbone of our journey so far, and we remain committed to them as we continue to grow and evolve.

What was the need for this brand from a consumer’s perspective? What is the core business proposition?

The growing popularity of smartphones and premium phones among consumers fuelled the need for high-quality, premium phone cases and accessories. Our core business proposition was to establish ourselves as a brand that offered high-quality cases and designs that met the needs and preferences of our target customers.

We wanted to create a brand that consumers could trust for its quality and durability, and we worked hard to develop products that met those standards. By doing so, we aimed to differentiate ourselves from other brands and establish a loyal customer base.

What have been your key learnings so far? How do you see the company’s ecosystem progressing in 2023?

Our journey as entrepreneurs has taught us several valuable lessons. Some of the key learnings that we have gained include:

• Quality is paramount: We learned early on that quality is essential to building a successful business. We focused on creating high-quality products and delivering excellent customer service, which helped us establish a loyal customer base.
• A capable team is crucial: We realised that we couldn’t do everything on our own, and building a capable team was crucial to our success. We hired talented individuals who shared our values and worked together to achieve our goals.
• People care about themselves the most: We recognised that consumers are primarily motivated by their own needs and desires. We aimed to understand our target audience’s preferences and develop products that meet those needs.

Looking ahead to 2023, we see our company’s ecosystem continuing to grow and evolve. We plan to expand our product line and reach new customers through targeted marketing and advertising campaigns. We also hope to continue to build strong relationships with our customers and provide excellent customer service.

How is digital helping you further your business?

Digital technology has been a tremendous asset to our business. The ability to sell our products online has allowed us to reach customers all over India and beyond. Digital marketing has also helped us to target our ideal customers with precision, allowing us to reach more people while minimising marketing costs. We have leveraged digital tools and platforms to streamline our operations, optimise our supply chain, and scale our business more efficiently.

How did you identify your TG? Did you carry out any feasibility study prior to starting your business?

Identifying our target audience was an ongoing process that involved continuous testing and trial-and-error. We initially identified smartphone users who were willing to pay a premium for high-quality cases and accessories. Over time, we refined our understanding of our target audience by analysing customer feedback, sales data, and market research.

Prior to starting our business, we conducted a feasibility study to assess the market demand for our products and evaluate the competition. This helped us to determine whether our business idea was viable and identify potential challenges we might face.

What were the challenges that you faced in your startup journey and how did you overcome them?

Regarding the challenges that we faced in our start-up journey, managing the large number of SKUs in our business was a significant hurdle. With so many different products, it was challenging to keep track of inventory, logistics, and customer demands. It took a lot of time and effort to develop our own in-house tools and systems to address this issue, but we were eventually able to conquer it. By streamlining our processes and becoming more efficient, we were able to scale our business faster than ever before.

What would be your message for budding entrepreneurs?

Focus on unit economics. One common mistake that many individuals and businesses make is focusing solely on generating sales without considering the underlying financial calculations and profitability. It is important to understand that generating sales does not necessarily equate to making profits. Additionally, scaling a business without considering the potential negative impact on profitability can be detrimental. Neglecting to evaluate profitability and blindly pursuing sales can be akin to self-sabotage. Therefore, it is crucial to take a closer look at the financials and take informed decisions based on profitability rather than just revenue generation.

What makes your brand stand out from other brands?

• Variety: Our brand offers a wide range of products across different categories, giving customers a plethora of choices to select from. This helps in catering to the diverse needs of our customers and makes our brand a one-stop-shop for all their requirements.
• Quality: We place a high emphasis on the quality of our products. We ensure that our products are made with the best quality raw materials and undergo rigorous quality checks before being made available to our customers. This helps in building trust among our customers and ensures that they come back to us for more.
• Service: We believe that customer satisfaction is the key to the success of any business. We have a dedicated customer support team that is available 24x7 to assist customers with their queries and concerns. We also offer easy returns and hassle-free exchanges, ensuring that our customers have a seamless shopping experience.

By excelling in these core aspects of the business, we have been able to stand out from other brands in the e-commerce niche. Our commitment to offering a wide range of high-quality products, coupled with excellent customer service, has helped us survive and thrive in a highly competitive market for almost 7 years now.

How has the industry changed since you first started your company?

With the disruption of affordable data and voice plans, there was a surge in digital reach and accessibility. The widespread availability of affordable data plans led to an increase in the number of people using e-commerce platforms to shop, which created new opportunities for businesses like ours to expand their reach and increase their customer base.

The rise of social media and other digital platforms has also made it easier for businesses to market and advertise their products, helping to increase their visibility and brand awareness. The use of technology and automation has also helped businesses like ours streamline their operations and improve their efficiency, allowing them to offer better services to their customers.

In addition to these changes, the industry has also become more competitive with the entry of new players – both domestic and international. This has resulted in a more dynamic market, with businesses constantly innovating and adapting to stay ahead of the competition.

Overall, the industry has changed significantly since we started our business, and these changes have presented both challenges and opportunities. As an entrepreneur, it is important to stay agile and adapt to these changes to stay ahead of the curve and succeed in the long run.

What has been the most rewarding aspect of running your business?

Running a business can be a challenging yet fulfilling experience, and there are several aspects of it that can make it rewarding. Firstly, one of the most significant benefits of being an entrepreneur is the freedom it provides. As business owners, we have the flexibility to set our own schedules, work on projects that interest us, and pursue our passions. This can be incredibly fulfilling and can help us maintain a healthy work-life balance.

Another rewarding aspect of running a business is the opportunity to travel. Depending on the nature of the business, entrepreneurs may have to travel to meet with clients or attend industry events. This can be an exciting experience, and it offers a chance to explore new places, cultures, and opportunities. Traveling can also help business owners expand their networks and gain new insights into their industries.

Perhaps the most rewarding aspect of running a business, however, is the satisfaction of creating jobs and making a positive impact on people’s lives. By providing employment opportunities, entrepreneurs have the power to improve the financial well-being of their employees and their families. This can be a source of great pride and satisfaction, as it allows us to make a tangible difference in our communities.

Overall, the combination of freedom, travel, and the ability to create jobs and make a positive impact on people's lives can make running a business an incredibly rewarding experience. It's not always easy, but for many entrepreneurs, it’s a labour of love that offers both personal and professional fulfillment.