Shark Tank India के बाद इस Company का हुआ COMEBACK | Shark Tales Ep 3 ft Flatheads

Summary

In a recent interview, Ganesh, founder of Flatheads, reflects on the explosive growth of his brand following its appearance on Shark Tank. He shares insights into his entrepreneurial journey, from his experiences at Bain and Honeywell to launching Flatheads with a focus on sustainable footwear. Ganesh discusses the challenges faced during the pandemic, emphasizing the importance of adaptability and innovation in business. He also reveals plans for future collections in response to increased demand and highlights the role of social media in building brand awareness. His story showcases resilience and a commitment to creating products that resonate with consumers.

Takeaways

• 😀 Ganesh, the founder of Flatheads, experienced a massive influx of social media engagement after appearing on a popular show, indicating the power of media exposure.
• 😀 Flatheads collaborated with The Soul Store, leading to a t-shirt selling out in just 72 hours, showcasing the brand's rapid market acceptance.
• 😀 Ganesh’s background includes experience at Honeywell and co-founding Momo, illustrating a solid foundation in entrepreneurial ventures.
• 😀 The idea for Flatheads was inspired by the challenges faced with shoe comfort and climate in India, leading to innovative shoe designs.
• 😀 Early marketing efforts were heavily reliant on LinkedIn and Twitter, contributing 30% of organic traffic to the brand.
• 😀 Flatheads experienced a sales increase, reaching 2.4 crores in FY22, despite lower gross margins due to product diversification.
• 😀 The pandemic posed significant challenges, altering consumer behavior and leading to a temporary decline in demand for formal shoes.
• 😀 Reflecting on past decisions, Ganesh recognized the need for a more flexible approach during the pandemic, suggesting potential pauses in business operations.
• 😀 The company emphasizes sustainable materials in their shoe designs, positioning Flatheads as an eco-friendly brand.
• 😀 Ganesh's experience on Shark Tank included both humorous moments and strategic discussions about pricing and product range.

Q & A

What was Ganesh's reaction to the overwhelming response on social media after the Shark Tank episode aired?

Ganesh felt dazed by the rapid influx of connection requests and engagement, stating that he had to shut down his LinkedIn temporarily to manage the volume.

How did Flatheads collaborate with The Soul Store, and what was the outcome?

Flatheads collaborated with The Soul Store to sell a special t-shirt, which sold out its inventory in just 72 hours.

What inspired Ganesh to start Flatheads?

Ganesh was inspired by his experiences at Honeywell and the burgeoning mobile payment ecosystem in India, which led him to seek opportunities in disruptive product design.

What was the sales performance of Flatheads in FY21 and FY22?

In FY21, Flatheads achieved sales of about ₹1 crore, while in FY22, sales increased to ₹2.4 crores.

What challenges did Flatheads face during the pandemic?

The pandemic severely impacted Flatheads' business model, as people were not buying shoes due to remote work, and offline events had to be canceled.

What marketing strategies did Flatheads employ in its early days?

Ganesh utilized cold messaging on LinkedIn and Twitter, which contributed to 30% of the company's early organic traffic, along with performance marketing on platforms like Facebook and Instagram.

How did Ganesh view his pricing strategy for Flatheads?

Ganesh acknowledged that the company may have been priced too high and suggested that creating a range of entry-level sneakers could have been beneficial.

What was Ganesh's take on the advice he received during the pandemic?

He reflected that he should have considered his investors' advice to pause operations during the pandemic, rather than trying to force demand for products that people weren't buying.

What materials did Flatheads focus on for their shoe designs?

Flatheads emphasized sustainable materials, launching products made from polyester and bamboo, as well as cotton blends.

What memorable moment did Ganesh experience after the Shark Tank episode aired?

Ganesh organized a mini get-together for Flatheads employees, where they celebrated by doing shots every time he spoke in Hindi during the episode, resulting in a fun and memorable night.