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Nanavath Devender Naik | The Entrepreneurs of India Youngpreneur Magazine August 2022

Updated: Sep 7, 2022

Because the people who are crazy enough to think they can change the world are the ones who do. Steve Jobs said it right. People inspired enough to make the world a better place carry an unmatchable zeal. They bring out the goodness inside them and dole it out to the world. Mr. Nanavath Devender Naik is an entrepreneur with a high intellect, innovative spirit, and vigour.

As per usual, Nanavath saw that the cost of items was too expensive and out of budget range when he went shopping online. The thought crossed his mind: is there anything he could do to aid his fellow folks? While researching, he realized that certain online sellers had hefty price hikes. There, he began with his own business, not only for commercial profits but to provide a solution to exorbitant prices, setting up a website called http://WWW.IAMALLSTORE.COM

Consider a product with a "real selling cost" of 500 rupees but a final price tag of 1,200 rupees for the customer. With all the transaction costs included, the net proceeds to the seller are 500 Rs and the net proceeds to the buyer are 700 Rs. At that very moment, he had the inspiration to create a marketplace where sellers of all colors could offer their items for sale at affordable rates and without the usual hassles of setting up an internet store, such as listing fees and transaction costs. Following this, he plunged headlong into his investigation by setting up a schedule of visits to factories and libraries around the country. A lockdown was then implemented, and all operations were terminated. As soon as the lockdown was lifted, he started striking factories and reaching out to producers to ask them to do business on his platform.

His only resources were a will to succeed and a mutually beneficial business proposition for the seller and the buyer. Reaching out to manufacturers and enticing them to list on a brand-new, unknown platform; choosing the ideal technical team to build the website; the finest delivery partners to provide the best prices and services; gaining clients' confidence, and establishing a solid reputation are all obstacles that Mr. Nanavath faced. Despite everything, his boat sailed and he established himself as a successful entrepreneur.

He now holds the view that young entrepreneurs in India may struggle to acquire people's trust since their businesses are so new. When facing overwhelming opponents, you feel hopeless. You may have to sacrifice personal time, sleep, and other hobbies at the beginning of your career. It's mind, heart, and body-wearying. So you have to stay patient and continue pushing ahead.


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