Turn challenges into opportunities and don't run after money: Naturals CEO CK Kumaravel
From finding white space in the wellness space to facing the setback of a global pandemic, Naturals Salon & Spa is now focusing on retailing BPC products and diversifying its offering, along with a digital push.
CK Kumaravel, Co-founder and CMD, Naturals Salon & Spa has a controversial take on starting up. He believes if you don't know about the business you're planning to venture into or the industry, it is an extremely good position to be in; it allows you to start making your own rules.
“You need to come from outside the industry to disrupt the industry,” said Kumaravel in conversation with Founder and CEO of YourStory, Shradha Sharma.
Kumaravel, who started Naturals in the aftermath of Raaga herbal powder's failure, believes that ground zero is a wonderful place to begin your entrepreneurial journey.
On finding white spaces to disrupt an industry, Kumaravel firmly believes that if you find yourself irritated about a particular gap, it is the potential opportunity to create something to provide a service for customers who may also be as annoyed.
In the 2000s, the Naturals’ founders realised the public was irritated with only two options when it came to hairdressing—they were either 5-star hotels or roadside barber shops—and found the need for good quality affordable salons.
Guiding principles of entrepreneurship
“Entrepreneurship is not about making money; that's a very small portion of entrepreneurship. Entrepreneurship is an opportunity to make yourself, put yourself on the stage and make a positive impact on society,” Kumaravel asserted. He believes that founders should focus on taking care of the product and team, and the money will follow.
Kumaravel, who from an early age saw his mother putting on multiple hats including a single parent, teacher and breadwinner, highlighted the trend of women moving out of the workforce after college, marriage or kids, and that has proved to be detrimental to the country and its economy.
He along with his co-founder and wife Veena Kumaravel, whose idea led to the inception of Naturals in 2000, realised the potential in women and how their talent could be channelled and turned into an operational business model.
Veena emphasised that their solid partnership thrives because they play to their strengths. “He is a marketer…I get the other part of the service and products. That's my forte. I am interested and that's why I work on that,” she added.
However, the couple is quick to acknowledge that understanding each other's expertise comes with time as they initially had their roles flipped but changed directions once they could see the business scaling.
Future plans
After expanding and scaling a chain of affordable salons, the company is looking at retailing products in the beauty and personal care space like skincare and hair care. They also plan to build up their digital momentum along with a diverse range of businesses in the wellness space, including nail salons.
Entrepreneurial skills
Kumaravel stresses that aspiring entrepreneurs must master three essential skills for success. He advocates for these skills to be collectively developed by founders and key employees, rather than be limited to just one individual.
First is sales. Kumaravel does not refer to door-to-door and last-mile operations rather a good entrepreneur “should be able to conceptualise the product, put it together and sell the product.”
He also emphasised the ability to read and comprehend numbers as well as understanding the nitty-gritty of finance and how a business operates. A strong set of people skills is also very crucial to winning investor support and building key relations.
Dealing with setbacks
Being in a business where it is difficult to maintain social distance between clients and the business, Naturals was directly affected by the pandemic.
On dealing with setbacks, Kumaravel proclaimed, “Entrepreneurship is about going from one failure to another without losing enthusiasm. That's what is called entrepreneurship.” The only way to come out of these phases is to keep a strong mind and turn the challenge into an opportunity, along with a strong dose of blind faith, he added.
Edited by Kanishk Singh
