We both left working in our fancy corporate offices and came back to our hometown which is a Tier-3 city with a very limited resources to start our own venture.
December 06, 2017
Hi, My name is Gunjeet and I left my job with Infosys to start this company (Two Moustaches) with my brother Ravi with only a little savings/college security (approx 20 thousand initial amount) and our annual turnover for first FY was a little less than 2 Lakh four years back. We named it "Two Moustaches" since we were the only two brothers involved initially in all the processes right from sales, order processing, packing and dispatch as there was no employee in Two Moustaches. Today, the number of artisans employed is 22 and our sales are 3 crores annually and we focus to cross the 5 crore benchmark soon. Recently Amazon has also featured us on Amazon seller success story. Here is the link -
Amazon also invited us as the only seller out of their 2.25 Lakh seller base to one of their Town hall events in November where we addressed many Amazonians and shared our story on stage with them.
We realized that brass products which are manufactured in large quantities in Aligarh does not finds its potential buyers due to uneven distribution by the local manufacturers. Therefore, we thought of bringing this generations-old art, online for the world so that buyers across the globe can access and purchase these handcrafted items on a click of their mouse. We have a strong brand presence on Amazon.
Initially we faced many challenges like space issues since we started from our small house and could not keep enough stock in the living room. Coming from a small town Aligarh, we also did not have much exposure to the latest trends so we decided to travel at least once in a month to Delhi just to learn what is in trend and what designs do people actually like so that we can cater them. Travelling and meeting new people helped us in realizing what the people are expecting and what is it which is currently missing in the brass market so that we can fill the void.
There was also a financial crisis in initial days since we invested all our savings in the venture. But shortly we realized that we need to cut our personal expenses to make the "Moustaches" grow.
Since the rent for the commercial space was higher, thus our family supported us and from our ancestral home we moved to a rented accommodation and soon the entire home was converted to our first office cum warehouse with enough space now to hold more SKU's. Hiring a team was still a challenge.
About 2-3 months later, with the growing need, we hired our first employee who was a college student and was available only in second half after his college, so the salary negotiated was lesser than a full time employee. We make sure that every penny we earned belongs to "Two Moustaches" and we reinvested the revenues only in stock, generating new designs and resource building. Soon with the right decisions, the cash inflow increased and we hired more people. We now have a good team size and even have doubled the space only because till date we believe that whatever we earn belongs to "Two Moustaches" first and is invested in its growth before our personal growth.
My advise for everyone is to always try learn from your surroundings and people and to implement those learning in your business. I once went to an ice cream parlor and before ordering a cone, I tasted one of the new addition in flavors and did not liked it so I ordered my usual flavor. Immediately the idea struck that whenever we develop any new design or product, everyone might not like it and thus we should not stock them in large quantities as it will block your capital. As a startup, managing your funds are very important and thus always have a small stock for new additions till the time that product becomes popular and is really in demand.
As an entrepreneur, keep focused and keep innovating in your business. Never be afraid or overthink what your competitors are selling as this will only pull you back. You can always do much better when you look forward and build your own "brand". Watching you grow, some day your competitors will become your brand's followers and that I believe is your first sign of success.
When you are growing, you recognition is increasing equally so never be overconfident of this success. Always try to be as humble with your Customers as you were on the first day of your startup.
We at Two Moustaches believe in delivering the quality products and innovative designs at an affordable prices to our buyers and believe in Customer obsession. We believe that we are forever in a learning phase and there is always a long way to go.
We hope that our story can encourage others and make them believe that initially your venture might not seem as good as you have planned it for yourself but your hard work and right decisions at right time will surely take you to new heights.
December 06, 2017
December 06, 2017