[TBC Podcast] Ep #30 - Scaling Zero to One
Learn how Vineet Singh and Dinesh Kumar used their expertise in scaling multiple businesses to start their entrepreneurial journey with Castler.
Vineet Singh and Dinesh Kumar founded Castler, a fin-tech startup helping businesses build a trust-based transaction ecosystem providing a digital escrow platform. Vineet is the CEO of this transparent company and Dinesh is the CBO along with being the co-founder. As seasoned sales professionals with 50+ years of experience in growing businesses, they have scaled businesses to exceed 100 crores in profits.
Their knowledge of various industries is extensive. Their careers contributed to the growth of several reputed companies as Naukri.com, MagicBricks, Treebo, Mobiwik, 99acres, Barclays, Kotak, OLX, Yes Bank, ICICI bank.
On making a shift to a fintech company, Dinesh Kumar said -
“The fintech industry is rapidly evolving to tackle the exponential rise in monetary cyber-frauds that has been experienced in the past few years. Since 2019, monetary frauds have risen by approximately 30% in India. A secure transaction ecosystem is the need of the hour, and I’m beyond thrilled to be associated as a co-founder and spearhead the business development function of Castler and work towards establishing easy and safe escrow workflow solutions for both consumers and enterprises.”
This Delhi-based fintech company has grown by 53% with a value of active transactions nearing Rs 30 crore in just 7 months of launch. It has been registering an average of 6,000 transactions every month with the cumulative transaction value pegged at ₹80 crores.
Bytes and Takeaways
Customer is the king
Don't lose existing customers to lure the new ones.
Talk to customers
Take insights from the regular users of your product so that you can make the right decisions to build a product roadmap. Taking feedback is important for any product to grow and for any business to succeed.
Competition ensures credibility
Entrepreneurship is solving a problem and finding better ways to an existing solution to a problem. Don't get bogged down by the number of competitors in the market, make your niche in the ecosystem.
Strengthen your strategy
Understand the art of execution and, all your strategies would fall into place.
Keep resources in check
Ensure scalability, keeping in mind that whether the right amount of resources are available or not.
Teamwork makes the dream work
Give exposure to your employees, so that they are capable of learning and growing. This would build a healthy culture that would take your business to greater heights.
Always under-promise and over-deliver
Businesses work on trust. Don't promise anything that you can't deliver. Doing it is bad for the reputation of the business and yourself. Under-promise. Over-deliver. Ensure that you provide Quality.
Be a life-long learner
A startup journey is not less than a roller coaster ride. You learn from your failures. But, you should know to build on it, to make a change and try again, without worrying about the result.
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