Prateek Jaiswal - Gain as Much Knowledge and Experience as Possible (CEO of Prateek Jaiswal Creations | Entrepreneur with a Passion for Finance)

 I owe my success to Failures, to people who cheated on me, to people who never believed in me, and to my hard work, and perseverance, plus the support of my team and family. One of the hardest choices I had to make and always have to make is to close or let go of a business that I built but is not performing well, it hurts. 

1. Please tell us something about your early days & career story. How did the idea for your business come about?

I grew up in a family of businessmen, so I was always interested in starting my own business. Right after I returned from the hostel and started class 9th in 2012, I saw a gap in the market for second-hand phones. It was the starting time of touchscreen phones, and although they were not as expensive as mobile phones today, they were still new for people, especially in Varanasi. Many people wanted to try them but didn't want to spend that sort of money. I saw this as an opportunity and contacted retailers in Varanasi.

I told half of them that if anyone wanted to buy second-hand phones, they could give them my number, and to the other half, I said that if anyone wanted to sell their phones, they could give them my number. Three months later, my phone couldn't stop ringing. I had a copied Chinese version of the newly launched Samsung Galaxy S II, which my father bought for me for 1200/- after I cried for 2 months straight. Back then, it wasn't easy to get phones from parents, let alone smartphones. I became the go-to person for all types of second-hand phones. I did this for a long time and made great profits.

Then, OLX and Quikr came eliminating my need in the market, on top of that Jio came with free internet, which ended my journey. After that, I tried my hands at multiple businesses. I made losses in some, but I also made great profits in some. I sold some businesses, while others are still running great under the umbrella firm P.J.C-PrateekJaiswalCreations. Currently, I am working on a financial literacy platform called 'Black Wealth Alliance.' I have high hopes for this start-up of mine."

2. Considering the fierce competition in today’s business world, how would you highlight your company’s competitive advantages? What makes it stand out of the crowd?

At P.J.C-PrateekJaiswalCreations, our motto is "Building a better tomorrow, hand in hand with industry leaders."  We don’t believe in competition, what we believe is in joining hands with industry leaders and working together, this eliminates all the falling points for our company and in fact, gives us huge benefits.

3. What are your most effective methods to motivate your team for outstanding results?

I believe that what any leader can do best is to make sure to work together with your team on every possible thing, it makes them feel valued as well as they don’t feel like just employees but they feel that they are a crucial part of the company. I make sure that everyone on my team understands the goals we are working towards and the impact that their work will have on our clients and their businesses.

I also believe in creating a positive work environment that fosters collaboration, creativity, and innovation. We celebrate successes together and learn from our mistakes, and I make sure to provide regular feedback and recognition for a job well done. Finally, I believe in empowering my team members to take ownership of their work and make decisions that will help us achieve our goals.

4. How do you handle investors and funding issues in your business?

As a bootstrapped company, we have not relied on external investors for funding. We believe in slow, steady, and strong growth.

5. What motivates you to keep going? What do you consider to be your strengths and weaknesses?

I am motivated by the opportunity to create something of value and make a positive impact on people's lives. I love the process of building a business from the ground up and seeing it grow and thrive over time.

As for my strengths, I believe that I am a strategic thinker with a strong ability to identify opportunities and execute them. I am also a good communicator and collaborator, which allows me to build strong relationships with my team and clients. Terms of my weaknesses, it lies in overthinking most of the time.

6. What piece of advice would you give to college graduates who want to become entrepreneurs?

My advice to college graduates who want to become entrepreneurs is to gain as much knowledge and experience as possible before starting their own business.

This could be through internships, freelancing, or working for a start-up. They should also focus on building a strong network and finding a mentor who can guide them through the process.

7. To what do you owe your success? What are some hard choices you had to make to get where you are?

I owe my success to Failures, to people who cheated on me, to people who never believed in me, and to my hard work, and perseverance, plus the support of my team and family.

One of the hardest choices I had to make and always have to make is to close or let go of a business that I built but is not performing well, it hurts.

8. What was the toughest moment in your business journey? How did you go past it and move forward?

The toughest moment in my business journey was in 2021, right after covid when we were trying a new vertical and went all in but it crashed and left us in huge debts. This setback was due to believing in someone close.

It was a difficult time, but we learned from our mistakes and ground in all of our other businesses, paid all debts, and became profitable again in late 2022.

Brief  Bio:

Prateek Jaiswal is a young entrepreneur who is quickly making a name for himself in the business world. Prateek Jaiswal is a great entrepreneur who wants to conquer the business world. He has a lot of experience in the field and has a great track record. He is very passionate about his work and has a great vision for the future. He is a very hard worker and is always looking for new opportunities. He is a very intelligent and strategic thinker and always comes up with new ideas. He is a very successful entrepreneur and has a lot of knowledge about the business world. He is the founder of several successful companies. Prateek Jaiswal is a rising star in the business world, and he is sure to continue to achieve great things in the future.

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Interviewed by - Aarya Gode