Interview with Ankit Bansal | Bansal Foods
I hope this can inspire you to become a successful entrepreneur too! Why is it important to hear the story of a successful entrepreneur?
Having the vision to become an entrepreneur is great. Making it happen is another story!
In that frame, I had the pleasure to interview Ankit Bansal, founder of Bansal Foods.
1. Why did you choose entrepreneurship over a job?
I always think to make an effort to create employment to be a boss not to do the job, My strength includes the flexibility to deal with people, to figure out flexible solutions to the toughest problems, always think to create value for all and not just for myself. Weakness is that, sometimes, I tolerate people for long. Although I am straight forward sometimes I delay it. I always “think to make an effort to create employment not to do the job”
2. What gets you out of bed in the morning i.e. what’s your source of motivation?
Good Question! I would say not just in the morning but also at night, it usually happens. Am always fond of figuring out something niche or new, which may create a proposition for me and the public at large. I usually keep this mode on all the times and it serves as a source of my motivation. By GOD’s grace, have been able to do that as well, where either has created it or worked on something related to it. Also, I am currently in the process of developing something niche on lines.
3. Why should people choose your products/services?
See, people should always choose the product or service which tends to create value for them and talk sense. Also, All are our services under are focused around it. If there is anything where we cannot serve the expectations or cannot create value, we are open to say no directly to the people. Also, I believe all your services & the way you provide it, should involve some sort of innovation. You can sense the flavour of same in our services. This is something which creates us as a differentiator.
4. What’s your competitive advantage and why can’t it be copied?
Our quality is our competitive advantage. I strongly feel that if you are able to sustain great quality then create some immunity for your business because your customer become your investors and they do repeated business.
5. What challenges/obstacles did you face in your journey so far?
We all know that every business has risks. Our risks are associated with a right skillset that we look for expansion in future. Although, with a clearly defined process, and innovative means to reach out to search resource, we are confident enough that we will curb it.
6. What are your expansion plans/breakeven projections?
Bootstrapped so far. Likely to breakeven in Q3. We are working on an expansion of our outlet, searching for good opportunities in a current market era, as earlier, we got a good working area where we got good opportunities to serve the demand of that particular market.
7. Tell our audience more about your failures? How should one bounce back?
Yes, we do have and it is increasing with time and with requirements. But we are constantly learning.
8. What comes first for you – money or emotions?
I am an emotional person. As per my thinking money is basic motive of any business but before money anyone has to work on creating client satisfaction because satisfaction of customer is primary need, Business needs to have emotions, not personal, obviously, but business ones like concern for quality deliverables, client satisfaction, targets & roadmaps, you planned & how you will achieve it, etc. Money is obviously the priority but I believe if your value creation process is right for others, the money will automatically come as an outcome of it.
9. How do you handle the pressure and manage stress?
I have successfully carried out all the pressure of my organisation, actually we always think positive when we got any challenge or pressure in our work will find out its solution, and handle situations positively have. It was a challenging task as the sector for which we were executing it, was complicated. Even, parallel hired consultants were not that effective as compared to our work and Organisation fired them. But due to the continuous trust of my immediate supervisor in me, I have been able to carry out successfully.
10. What advice would you give to someone starting out, particularly to aspiring entrepreneurs?
I always work on a tag line ‘add value to get value’. Don’t focus primarily on money or investments but keep your focus on creating a sustainable venture & value creation. I believe, rest things will automatically set with time. Also, if you are starting up a venture, feel free to reach out to us. You will find us a great partner or mentor to you with innovative means.
