Shayak Mazumder is the CEO and Co-Founder of Eunimart, a SaaS platform that helps brands unleash the full potential of global commerce by providing a one-stop solution to grow globally and accelerate profitability. Eunimart makes it extremely easy to sell on multiple sales channels around the world through a unified SaaS platform, enabling logistics & supply chain networks, and providing a growth-oriented marketing automation platform. Eunimart helps brands increase revenue up to 2x and reduce costs by approximately 35%. A bit about Shayak’s background: Formerly the global Managing Director for the Rocket Internet group, and heading cross-border e-commerce vertical across 21 countries (LATAM, Africa, South Asia and China). He is an Ex-Indian Navy (Nuclear Biological and Chemical Warfare specialist, among the youngest officers in the history of the Navy to reach staff rank) and INSEAD MBA. Key takeaways in this episode:The early years.In spite of his prestigious military career and without his father’s approval, Shayak decided to take a different road by starting a business managing beach-facing properties in Goa, India. This was a new experience for him since he was the first in his family to become a business person. It only took him a few months to build a reputation of a family place allowing him to quadruple his profits in the first year and create strong networks with the local businesses. After 2 years in this business, Shayak arrived to the conclusion that instead of creating wealth, he was more interested in doing something more meaningful and with a greater impact. It was this decision alone that brought him to work with startups. After one year of working with these companies, Shayak was able to create business plans effective enough to be implemented in 21 different countries across Latam, Africa, South Asia and China. This was the one experience that made him understand that he could do this by himself. Inconsistencies on the Internet.Although the Internet was supposed to democratize commerce and create an even ground for everybody, there is a massive conglomerate that controls 80%-90% of it. As a small business, you have to pay these big companies (Apple, Facebook, Amazon, Google, etc) for scalability and for a place in the market. And even if you pay these companies, the success rate is significantly low. This inequality of opportunities made Shayak go once more to unknown territory to try to find a solution to this problem. What Eunimart proposes as a solution.Although the solution is still a work in progress, Eunimart is confident that once finished, its approach will create a huge impact. Eunimart has actually managed to aggregate most of the e-commerce channels, create a layer on top, so any brand can come on board and be able to build all the online components (your account, listing, catalog, prices, inventory, orders, payments, shipping, distribution, supply chain, marketing, etc) all in one place.Artificial intelligence as a main tool.Automating this process is not enough since most of the brands would still not be able to determine how to price a product in a new country or how to go live in a new demographic. The only way to make this possible is through artificial intelligence that is able to look at the item, then create a price, description, shipping options, inventory information and the rest of the necessary data to launch the product successfully. If this can be accomplished, Shayak envisions online businesses being able to go live and launch products in more than a hundred countries. PPM - People, Process & Money.As an entrepreneur, Shayak believes the success of a business depends on how well these three parts of the business cycle are managed. With money, it is possible to bring high-quality people to your business who will create high-quality processes and strategies. These processes will bring or increase your revenue (money) and the cycle starts again. Shayak admits this sequence is very hard to understand by founders in the early stage. How to keep going when everything is going wrong.Shayak suggests to always remember these 3 things: Why are you doing it? It is critical to always remember your vision and the cause that made you start the journey.Who is with you? Surround yourself with positive people who will help you go through the difficult times and get rid of people who can potentially bring negativity (especially in the early stage).What are you going to do about it? Break down the problem, look at what you can do with the resources at hand and prioritize accordingly.Listen until the very end to gain all the value from this episode!Don’t forget to follow our podcast for more future episodes and leave a review if you find value in this series!Connect with Shayak:Shayak Mazumder on LinkedInApply to be our next guest speaker here: https://bit.ly/wtsguestspeakerapp
