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| We have been able to empower the farmers by enabling them to access our offerings ranging from authentic and original agri inputs to financial services to helping them identify the right markets for their agricultural produce |
1. Can you provide an overview of BigHaat India and its mission in the agriculture sector? What inspired you to start this venture?
BigHaat India's mission is to transform the future of farmers by leveraging Science, Data, and Technology. It is India's largest digital agri-ecosystem that excels in the agricultural sector by enabling farmers to make informed decisions throughout their entire cropping cycle. They provide holistic farming services across the Agri value chain, including agricultural inputs, farm advisory, financial services, market linkages, and more.
The inspiration behind starting this venture comes from the desire to bring about a positive change in the agriculture industry, making farming a rewarding and profitable occupation. Growing up in a traditional farming family in Andhra Pradesh, I witnessed the hardships faced by farmers and felt compelled to support them.
2. As the CEO and co-founder, you have a wide range of responsibilities, including strategic leadership, fiscal planning, and policy development. Could you share some key achievements or milestones that BigHaat India has reached under your leadership?
As the CEO and co-founder, some key achievements and milestones that BigHaat India has reached under my leadership include:
Developing a full-stack ecosystem that empowers farmers with Good Agricultural Practices (GAP) and authentic, quality inputs.
Becoming the largest farmer platform offering 360-degree solutions, including free agronomical services via missed call services.
Establishing a Market linkage vertical to help farmers sell their produce, increasing their profitability.
Launching the "Sustainability Development Program," enabling farmers to grow crops with judicious use of agri inputs, maximizing yield.
Expanding to cover around 20 million+ farmers, serving pan India, touching 18,000+ pin codes.
Implementing a capital-efficient model with plans for aggressive and profitable growth.
We are also focused on upgrading technology offerings with AI/ML technology and blockchain technology, and we expect to grow at a CAGR of 85%+ over the next 3 years.
3. BigHaat.com is described as the first and largest e-commerce platform for agri inputs in India. Can you elaborate on how this platform connects the farming community with suppliers and the impact it has had on the agriculture sector?
BigHaat.com, as an agri-digital ecosystem, digitally penetrates the farming community by making facilities accessible via mobile phones. The platform empowers farmers to access authentic agri inputs, financial services, and market information. With over eight years of existence, BigHaat has impacted 20+ million farmers across India. Offering 10,000+ SKUs from 400 brands, it has transformed over 50 million acres of land. Rapid digital penetration has led to 2 million monthly active users on digital channels, providing essential services to farmers.
4. In your current role, you mentioned developing a reliable cash flow projection process. Could you share insights into how this process works and its importance in the context of BigHaat India's operations?
A reliable cash flow projection process is essential for managing supply chain, inventory, and customer demand at BigHaat India, given its dynamic and competitive market. It helps the company:
Align purchases with expected demand.
Negotiate better terms with suppliers and vendors.
Optimize working capital and cash conversion cycle.
Maintain a healthy cash buffer for unexpected expenses.
Plan for growth and expansion opportunities.
5. What has been the biggest challenge that you faced and how did you overcome that?
The biggest challenge I faced was gaining acceptance and support for my vision in the agriculture industry. In 2015, the sector was perceived as chaotic, lacking technology penetration in rural areas. I persisted despite the initial skepticism and lack of support. Eventually, we raised our first round of investment, built a mobile application for the farming community, and expanded our services. BigHaat has since transformed the agriculture value chain, addressing challenges faced by conventional retailers and empowering farmers to make informed decisions.
6. What do you think are the most important qualities of a successful entrepreneur?
Some of the most important qualities of a successful entrepreneur are:
Commitment to succeed: An entrepreneur needs to have a strong drive and motivation to pursue their vision and goals, even in the face of challenges and setbacks. Commitment to succeed means having a clear purpose, a positive attitude, and a willingness to learn and improve. An entrepreneur who is committed to succeed will not give up easily but will persevere and overcome obstacles.
Endurance: An entrepreneur needs to have the physical and mental endurance to cope with the demands and pressures of running a business. Endurance means being able to work hard, manage stress, and handle uncertainty. An entrepreneur who has endurance will not burn out or lose focus but will maintain their energy and enthusiasm.
People skills / Man management: An entrepreneur needs to have the ability to communicate, collaborate, and lead effectively with different people, such as customers, employees, partners, and investors. People skills / Man management means being able to understand, enable, and set them up for success. An entrepreneur who has people skills / Man management will be able to build trust, inspire loyalty, and foster teamwork.
Culture: An entrepreneur needs to have the vision and values that shape the identity and behavior of their organization. Culture building means creating a positive and productive work environment that reflects the mission and vision of the business. An entrepreneur who is skilled at culture building will be able to attract, retain, and motivate talented people who share their passion and purpose.
Quick decision making: An entrepreneur who is skilled at quick decision making will be able to seize advantages, avoid pitfalls, and respond to feedback.
7. What are some of the most important factors for running a successful business?
Some of the most important factors for running a successful business are:
Identifying and hiring the right people: A business is only as good as its people, and finding the right talent is crucial for achieving the goals and vision of the organization. Hiring people who have the skills, experience, and passion for the work, and who also fit into the organizational culture, can help create a productive and harmonious work environment.
Balance between profitability and scalability: A business needs to be profitable to survive and grow, but it also needs to be scalable to reach new markets and customers. Profitability is the ability to generate more revenue than expenses, while scalability is the ability to increase output without increasing costs proportionally. A balance between these two factors can help a business achieve long-term success and sustainability. A good way to achieve this balance is to focus on creating value for the customers, optimizing the business model, and leveraging technology.
Pivots based on learnings: A business needs to be adaptable and flexible to changing customer needs, market conditions, and competitive pressures. Pivoting is the process of making strategic changes to the product, service, or business model based on feedback and data. Pivoting can help a business find new opportunities, solve problems, and improve performance. A good way to pivot is to test assumptions, validate hypotheses, and measure outcomes.
Financial discipline: A business needs to have a sound financial management system to monitor and control its cash flow, expenses, revenues, and profits. Financial discipline is the practice of following a set of rules and principles that guide the financial decisions and actions of the business. Financial discipline can help a business avoid overspending, underinvesting, or misallocating resources. A good way to practice financial discipline is to set realistic budgets, track performance, and review results.
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