Friday March 22, 2019
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Mompreneurs shaping Indian economy

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By Ashleen Kaur

New Delhi: Wikipedia describes a Mompreneur as “a female business owner who is actively balancing the role of mom and the role of an entrepreneur”.

‘Mompreneur’ is a relatively recent word which has grown exponentially due to the prominence of internet based businesses. In India, more and more women are entering the world of business which was once reserved as a male bastion. Whether they make it big or contribute in a small way, they are definitely running a business on their own terms.

How can a mother make a career from home? By blogging.

Indian mothers can now fulfill their duties as a mother and work from home as well, even starting their very own company. India, in recent times, has become a hotbed for women entrepreneurs and even though Indian women have been doing various home based businesses for a long time, the newly found drive, ambition, and professional attitude has brought a world of change to the female entrepreneurial scene.

CEO & Designer Tory Burch said, “we need to get women to the point where they aren’t apologizing.  It’s time to take ownership in our success.”

The truth about being a Mompreneur is that a large number of talented and creative women have been discovering uncharted niches, creating jobs and utilizing the potential of a new economy. Since India is the most populated country in the world, there are not enough jobs for every single person. In such an economic condition, being self-employed is a commendable aspect.

“Harvard Business School defines entrepreneurship as the relentless pursuit of opportunity without regard to resources currently controlled,” states Harvard Business School Professor Janet Kraus.

“You know you’re doing what you love when Sunday nights feel the same as Friday nights….” says Donny Deutsch in his book Donny Deutsch’s Big Idea.

― Donny Deutsch, Donny Deutsch’s Big Idea: How To Make Your Entrepreneurial Dreams Come True, From The AHA Moment To Your First Million

The major benefit of being a Mompreneur is that your passion, idea or talent is turned profitable. Creativity is the biggest tool required to become an entrepreneur and the best part is that you can actually get paid for doing what you love.

Running a business and caring for a family are two demanding jobs that often seem to be competing against one another. Working mothers are often caught in the crossfire between the needs of their business and the cries of needy children. However, most Indian mothers have the capability to multitask and manage money, kids, and be thrifty as well.

As a Mompreneur, whether you’re pitching an investor, a potential client, or recruiting a new employee, it’s crucial to be able to lead with a hook and deliver your message clearly. Mothers are experts at telling stories and breaking down complex subjects using everyday words, even when the subject is anything but simple. (Picture Courtesy: www.3dcart.com)

  • Radha Panday

    Nice article ❤ quite educational ?

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The Growing Of New-Age Baniya, Courtesy Digitally-Savvy Millennials (Tech Trend-Part I)

All of them have certain inherent skills in common: unwavering grip over "Hisaab-Kitab" (accounts) and a clear understanding of their "evolved" customers

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successful people
Certain habits can make you achieve success. Pixabay

Born with business in their DNA, baniyas have written several success stories when it comes to traditional, brick-and-mortar industry. With the spurt in digital economy, the clan – be it a Bansal, a Goyal, a Gupta or an Agarwal – has now adapted to newer business models with ease, especially in the burgeoning digital space.

Online food delivery platform Zomato has a masterchef in Deepinder Goyal; Ola is riding on Bhavish Aggarwal; Sachin Bansal helped Flipkart deliver millions of packages; 24-year-old Ritesh Agarwal checked into the budget hotel chain OYO Rooms and Peyush Bansal, founder of Lenskart, has firmly set his eyes on becoming the leader in the eyewear segment.

Zomato has grown into a unicorn valued at $2.3 billion and recently raised $600 million in funding. Ola, India’s local rival to Uber and now present in over 125 cities, has seen its valuation jump to nearly $6 billion.

Zomato
Zomato has grown into a unicorn valued at $2.3 billion and recently raised $600 million in funding. Ola, India’s local rival to Uber and now present in over 125 cities, has seen its valuation jump to nearly $6 billion.

After selling his stake in Flipkart for nearly $1 billion following his ouster from the online retailer, Bansal has invested $100 million in Bhavish-owned Ola and is expected to invest more.

All of them have certain inherent skills in common: unwavering grip over “Hisaab-Kitab” (accounts) and a clear understanding of their “evolved” customers — most of whom are millennials and are spending most of their time on smartphones and Internet — from ordering pizzas to calling cabs, booking flights to shopping anywhere, anytime.

Baniyas, an occupational community of merchants, bankers, money-lenders, dealers in grains or spices, who have set up commercial enterprises, have fast reinvented themselves for the changing needs of over 400 million millennials which make up for 46 per cent of the country’s workforce, according to a latest Morgan Stanley report.

business
The rise of New-Age baniya, courtesy digitally-savvy millennials (Tech Trend-Part I),Pixabay.

“The Gen-Y of traditional business families have moved onto the e-commerce bandwagon and are successful due to their exposure to developed economies, newer business models and better education,” says Thomas George, Senior Vice President and Head-CyberMedia Research & Services Ltd. (CMR).

With over 400 million smartphone users and more than 500 million broadband users (nearly 97 per cent of them are on wireless connections), the baniya brigade has sensed their biggest-ever opportunity in the e-commerce and online space.

Zomato currently delivers 22 million monthly orders. The company has acquired a desi startup TechEagle Innovations for drone-based food delivery.

Also Read: Sony Pictures Brings ‘Escape Room’ Experience

According to Deepinder Goyal, Zomato is currently at the early stage of aerial innovations and are taking baby steps towards building a tomorrow wherein users can expect a drone to deliver the food they ordered online.

“We believe that robots powering the last-mile delivery is an inevitable part of the future and hence is going to be a significant area of investment for us,” he said, reflecting a clear baniya trait, to sense what the new-age customers want.

According to George, the baniya community is now fueled by evolving customer preferences centred around convenience. “Needless to say, the sunshine sectors have offered wider scope and better growth opportunities for them,” George told IANS. (IANS)