FalguniNayar is the first self-made woman billionaire in India. Her company, Nykaa brought international, Indian, organic, and even affordable brands to each and every household through mobile phones. Here are some of Nykaa's CEO FalguniNayar excellent financial tips for success.
Always believe in yourself and your idea
Falguni says that if you have strong conviction in your idea and capability, you can achieve anything. When Falguni got her business idea, she went ahead with full conviction and initially funded her business completely from her own and family finances. Much later after Nykaa became successful, Falgunisought investors and raised money after which Nykaa became a unicorn.
Age is only a number
Falguni started Nykaa when she was nearly 50 years. Her clear message to all is, age is just a number! There is no age to start a business and you are never too old. Falguni had conviction in her idea and it just took her a decade to turn her start-up into one of India’s most successful brands. If she would have thought otherwise, there would be no Nykaa and its impact on the Indian corporate sector.
Prioritize and set your goal
Once you have a clear goal, prioritize it with full conviction. You need to dedicate your time and energy and all your resources to make the dream come true. Falguni followed this principle genuinely and this attitude helped her turn Nykaa into a profitable company even in its initial years. In case you are stuck somewhere, seek guidance on what needs to be done and how it can be achieved.
Adapt as times call for
In today’s time, technology and trends are evolving very fast. The market changes very fast and there are new entrants disrupting how the market operates at a much more frequent rate. Falguni says it’s very important to be light-footed and adapt as needed. Falguni saw that technology is the next big thing in India therefore, she positioned Nykaa as an e-commerce platform. As the entire globe is going digital, sticking with conventional ways of doing business will not let you thrive.
In the year 2015, Nykaaextended from online-only to an omnichannel brandand now sells in-house products as well. FalguniNayar even ventured into the physical retail model to meet unmet needs. We all can benefit from her illustrious achievement.
