On the 8th edition of SheThePeople’s Digital Women Awards collaborated with women entrepreneurs with small businesses in one of the panel discussions. The panel discussed upholding equality at work and shaping the business for growth. The awards serve as an inspiration and a way to honour the journeys of women entrepreneurs.
At the Digital Women Awards and Summit on Day 5, the Small to Scale: Shaping the Business for Growth panel was moderated by Prachi Bhatia, founder of Chokhat, along with Madhuri Balodi, founder of Kavi Project, and Panasha Siotia, founder of House of Parati. The three of them discussed the value of equality in the workplace and how to shape a business to increase growth.
Small to Scale: Shaping the Business for Growth panel
Starting A Small Business
Madhuri Balodi shared that she started her small business with Rs. 2000, and today her company has reached a revenue of Rs. 2 crores. She added that her business has no funding and is all hit-or-miss. According to her, most ventures begin with hits and trials, and consistency is what matters.
Importance Of Automation In Growing Your Business
Balodi shared, "Automation is very important to run a business because sometimes what happens is that initially when we get an order, we have to process it manually, then the order goes to the packaging team, and the entire process becomes a little lengthy at any e-commerce site. Right now everything is digital, and as everyone is saying, the digital thing is the prime thing. And now with automation, everything has become automated; everything, even the tiniest thing, is automated, and it has made running a website easy."
Role Of Technology In Growing Your Business
When asked how she has leveraged technology for growing her small business, Siotia shared, "People are going live on Facebook and showcasing their products, and they have been getting orders, and the viewership of these live shows has been increasing tremendously post-COVID because people have been on social media quite a lot of time."
She added, "For our business, House of Parati, our main platform is live shows on Facebook. I go live each day, and every day on my live for 2 hours or 3 hours, I am showcasing my products, and we are getting orders, and we are just amazed to see the diversity of these orders throughout the country."
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Big Step In Your Small Business
Balodi stated that it is always hit and trial; she stated that the largest order she received in 2015 was beyond their capacity. She admitted that they didn't have enough space or manpower to complete the order, but she said yes anyway. The order changed her life, and she hasn't looked back since.
How Significant Are Women Entrepreneurs in the Country's Economy?
Siotia stated that "Women entrepreneurs are inspiring other women out there to start something of their own, get out of their comfort zones, and build something of their own so that they can proudly say, 'This is mine', Additionally, women entrepreneurs have been covering the gender gap in the workforce by giving other women work opportunities."
A Lesson You Learned On Your Entrepreneurial Journey
Balodi stated that consistency is the key, and networking is the net worth, and both of these terms are critical in the entrepreneurial journey.