17 year old Entrepreneur and CEO of Worth Growth Partners Ritesh Agarwal on consulting foreign companies that are entering Indian Markets
What is Worth Growth Partners?
We are primarily a service company providing almost all the solutions a foreign company needs in India.
What is your market differentiator?
Although we are into a business which could be termed as innovative, but I would not say we sit on the edge without any competitor. Our primary market differentiator is obviously a good leverage on technology coupled with the manual and team led skills which in turn leads to the customer finding the best support system. Along with that the huge partner base amounting to more than twenty of them which are the leaders of the industry. But at the end of the day I would say the trust and splendid relationship of our's is the key differentiator.
How did the idea for your startup come about? How much capital was required to implement the idea?
This is interesting. I was in conversation with an entrepreneur friend of mine from Germany. He described to me how difficult it was for other German and foreign businesses to establish and develop in India. I personally started researching on the same and got in touch with my friends from Miami, Singapore and Delhi who were prospective team members for the same. Luckily, I was applauded when they heard that I was talking about developing a one-stop service platform for foreign businesses to develop in India. Further, this idea got nurtured to adding the service range for the Indian companies to go abroad.
Tell us about your background.
I have come to lead this business riding on my 5 year hard core experience in the Indian market. When I say hard core I mean it. In these 5 years I have been an entrepreneur, technology executive, social marketer, sales executive and even a sales man. Overall I can acclaim with humility that I have that in me to understand and customize any business for the Indian consumer because I understand them. I also have a pretty good sense of understanding the foreigners which primarily gives us a break through in better communication strategies. I have also earlier consulted corporates like bharti airtel ltd. Glaxo smithkine consumer healthcare ltd. Etc.
Personally, I am regarded as the worlds youngest CEO by various agencies, since I started when I was 13 and am really young even now. I have also authored a best seller book and have also been a part of the mini lindau conference as a scientist by the department of science and technology,India for brain storming with the Nobel laureates.
Let us know about the tie-ups that you have. Can you please share with us a few of your success stories?
As mentioned earlier we have a number of tie ups but since some of them are internal and some of them are under process to reach the pen and paper stage so it wouldn't be easy for me to give their names. But I can say all of them are best in their fields in the Indian industry and many of them in the global industry too.Yeah, we have a tremendous acceptance of the concept. Only in the last one month I have encountered twelve business from seven countries initiating talks for their indian projects. We have met more then ten trade delegations from various countries in the same duration sending away satisfied businesses who go back to say their board-"india is ready for you, because worth growth partners are ready for you !"
Where do you see your start up five years from now?
We want to become a prime company/platform that any company could look forward to before getting into any different country for establishing business there. For instance, if there is a Business in China which wants to expand in Singapore, Worth Growth-Singapore team would be the people to look forward to. And primarily have a success story base for companies who would be big shots by then after having worked with Worth Growth Partners.
Recently passing by the Delhi airports IIIrd terminal, I noticed some foreigners exchanging currency at a counter. I have a simple dream, I want corporates from all around the world reaching to the Worth Growth Partners' store in the best airports asking us go establish their businesses and our executives replying-"Happy to help you sir!"
What is your revenue model? Have you been funded?
We have a simple revenue model. As our name, worth growth partners signifies, we are partners of your growth and progress I.e. We partner you, get the project executed and ask for a simple payment for the same. We haven't been funded. Our business relies on the strategy that good work is noticed. So, we primarily concentrate on providing the best services. I primarily re-invested the money that I had gained from my previous startup and consultating projects along with some investments from bank over drafts.
As an entrepreneur, what are your joys? What are the challenges?
I wouldn't say that the best joy is about not having a boss because being an entrepreneur you have multiple bosses including your customer, legal executive, ca etc. The joy is leading a team, doing something of your own, talking risks, bringing out something out of nowhere. And, the most important one(on a funnier note), you earn lots of bucks.
How big is your team? Tell us a little bit about your team. Are you looking at hiring?
We are currently a 7 member dedicated team with over 20 partners handling tasks in best of the manner possible. We have a partner in Singapore handling our office in Singapore, dedicated VP for technology based services, and executives handling business projects like jv partner development etc. Most of them engineering graduates and also returnee fro USA. Very soon we will be looking at hiring for project specific executives.
Let us know about your expansion plans.
We are currently based out from india with offices in Singapore and in talks for partners in Europe and USA. For the next six months we want to concentrate on the current projects. After that we lead our way to various other countries where Europe and Americas are our prime aims. We have been watched at around 37 countries all around the world in the last fortnight. We are in current engagement with clients from Germany, England, America and Australia. We are on our way to growth mutually and that's what makes us say worth growth partners are your partners in growth all the way.
We at YourStory.in are really excited about more and more number of young people starting their own companies. We wish Ritesh and his team good luck with their plans ahead!
Do check out http://www.worthgrowth.com/