A quick chat || Inside the startup world with Saitej Goutha || #BizzBuzz exclusive

Summary

In this insightful interview, the CEO of Quickly shares the journey of building a startup in the Quick Commerce logistics sector. He emphasizes the importance of timing, understanding customer needs, and adapting to market shifts from traditional e-commerce. The discussion highlights the challenges of securing funding, the innovative concept of dark stores, and the necessity for startups to balance profitability with growth. Ultimately, the CEO encourages budding entrepreneurs to focus on product development and customer engagement before seeking investment, illustrating the dynamic nature of the startup ecosystem.

Takeaways

• 🚀 A startup requires the right team, timing, and location to succeed.
• 📦 The shift from traditional e-commerce to Quick Commerce is transforming the logistics industry.
• 🧑‍💼 Familiarity with the industry increases the odds of a startup's success.
• 💡 Understanding customer needs and readiness to pay for solutions is crucial for product development.
• 📈 Startups should focus on building a product that meets customer demands before seeking funding.
• ⏳ Quick Logistics aims to deliver within 2 to 3 hours, catering to modern consumer expectations for speed.
• 🏪 Dark stores, which are warehouses for online orders, play a significant role in the Quick Commerce model.
• 🗂️ Founders should prioritize creating a customer deck that outlines what customers want before preparing a pitch deck.
• 💰 While profitability is important, startups should also focus on growth and scalability to attract funding.
• 🤝 Building traction with early paying customers can significantly improve chances of securing investment.

Q & A

What is the primary mission of the startup quickly?

Quickly aims to revolutionize the logistics industry by enabling quick commerce, focusing on fast delivery times to meet the evolving needs of consumers.

What are the key factors in successfully building a startup?

The success of a startup relies on having the right team, timing, location, and understanding the industry dynamics. It's essential to be familiar with the market you're entering.

How does quickly differentiate itself from other logistics companies?

Quickly positions itself as an enabler for D2C brands, offering services that facilitate fast deliveries, unlike traditional logistics firms that often have longer delivery times.

Why is understanding the customer crucial for startup success?

Knowing your customer helps in developing products that meet their needs and ensures that they are willing to pay for the solutions offered, which is vital for long-term success.

What challenges did the CEO personally face while starting quickly?

The CEO faced challenges in gaining support from family and friends, securing funding, and navigating the complexities of the logistics market.

What does the CEO suggest about the funding landscape for startups?

The CEO emphasizes the importance of having traction and a good customer base before seeking funding, as investors look for established demand and market viability.

What is a 'dark store,' and how does it relate to quickly?

Dark stores are warehouses where customers are not allowed but are used to fulfill online orders quickly. Quickly utilizes this concept to streamline logistics for fast deliveries.

How important is profitability compared to growth for startups?

Both profitability and growth are crucial for startups. The CEO believes that having a balance of both is essential for sustainable success.

What advice does the CEO offer for budding entrepreneurs in the startup landscape?

Entrepreneurs should focus on developing their product and gaining early traction with paying customers before approaching investors for funding.

How does quickly plan to address the challenges posed by established logistics brands?

Quickly aims to differentiate itself through faster delivery times, enabling same-day and three-hour delivery, which addresses the demand for quicker service compared to traditional brands.