In this episode of Figuring Out Podcast, we have Shark Peyush Bansal, Founder and CEO of Lenskart and we have discussed:
-How can you enter a perfectly competitive market and build something where nobody can beat you?
-How to build a monopoly in a competitive market?
-How to find out your niche?
-How to build a brand which can set you apart from competitors?
-Journey of Lenskart, how does lenskart build another organisation inside their own company?
-Lessons on building a startup from 0 to taking it to 2 billion dollar
Peyush Bansal is an Indian entrepreneur and co-founder of the eyewear retail chain Lenskart. He founded the company in 2010 along with Amit Chaudhary and Sumeet Kapahi. Before Lenskart, Bansal worked in the United States at tech giant Microsoft. In 2007, he decided to quit his job and return to India. He built Lenskart from scratch, and today, it is one the biggest eyewear stores in India. In 2020, Lenskart entered the unicorn club and had a valuation of over $1 billion. Recently, in 2022, Peyush Bansal became part of Shark Tank India. At just 36 years old, he has become one of the most successful entrepreneurs in the world and a judge at the Shark Tank Show.
In this episode we have discussed about startups, entrepreneurship and his journey of Shark tank. Watch this episode till the end to know complete details.
Peyush Bansal's
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00:00 - Introduction
02:53 - How did Lenskart start?
05:23 - Piyush’s meeting with Bill Gates
06:18 - What differentiate Bill Gates from other leaders?
08:06 - Early days of Lenskart
09:40 - How to validate your business idea?
14:30 - How to make customers trust your product?
18:47 - Marketing of Lenskart
20:34 - Start with a Why or What?
21:22 - How to make employees connected with your why?
25:21 - How to build organisation culture?
29:36 - When did John Jacobs start?
30:41 - Blue Rays Spects by Lenskart
34:06 - How to kill the fear of being stupid?
35:14 - Experience of meeting Founders of same industry
38:03 - Why should we never be satisfied?
43:47 - How to market to Indian customers?
48:09 - Top 3 qualities of an entrepreneur
52:29 - Favourite Shark of Piyush
53:58 - Learnings from Shark Tank India
56:22 - Speed Vs Perfection
56:40 - How did Piyush get into Shark Tank India?
59:36 - Why didn't Piyush want to do Shark Tank?
1:01:35 - Next big opportunity to build a unicorn?
1:03:41 - Conclusion
About Raj Shamani
Raj Shamani is an Entrepreneur at heart that explains his expertise in Business Content Creation & Public Speaking. He has delivered 200+ speeches in 26+ countries. Besides that, Raj is also an Angel Investor interested in crazy minds who are creating a sensation in the Fintech, FMCG, & passion economy space.
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About Figuring Out
Figuring Out Podcast is a Candid Conversations University where Raj Shamani brings raw co