Nitin Seth, from a middle-class background, built a Rs 1000 crore business from a Rs 5 lakh loan. He identified a gap in the market for small businesses struggling to connect with customers and created a cloud-based platform for customer engagement.
They say that when you have a big dream and the determination to pursue it, no obstacle can stand in your way. Nitin Seth is a perfect example of this. Hailing from a modest middle-class background, Nitin started his business with a loan of just Rs 5 lakh, and today, he has built a Rs 1000 crore empire. Here is the inspiring story of his success.
Background
Born in Delhi, Nitin Seth’s father worked as a medical representative, while his mother was a homemaker. Education was highly valued in the family, and Nitin was an exceptional student from a young age. He went on to earn an engineering degree from IIT Bombay. Although he was selected for a job during campus placements, Nitin’s true ambition was to start his own business, not pursue a conventional career. This dream ultimately drove him to leave his job and venture into entrepreneurship.
Business ideas
Nitin says that he came up with the idea for his business by observing the problems faced by customers. Small business owners struggled to connect effectively with their customers, lacking organized data and proper communication channels. Nitin identified this gap and developed a solution. He created a cloud-based platform that provided business owners with a way to engage with their customers through SMS, WhatsApp, and email, helping them establish stronger relationships.
Overcoming challenges
When Nitin decided to start his own business, the biggest challenge he faced was a lack of funds. He borrowed Rs 5 lakh from friends and family, marking his first step towards entrepreneurship. His initial startup focused on creating a customer loyalty program. This experiment gave him valuable insights into customer needs and helped him develop the right solutions to address those needs.
Launching the startup
Establishing a startup in the market is never easy, and Nitin and his team faced this challenge as well. In the beginning, it took time to earn the trust of customers and demonstrate the value of their product. By continuously gathering feedback, they improved their offering. Over time, their platform gained popularity in global markets, including the United States, the UK, and Australia.
Conversive
Nitin's startup, now known as "Conversive", helps businesses connect with their customers through conversational messaging. The platform streamlines customer service using channels like SMS, WhatsApp, voice bots, and email. Whether it's sending doctor appointment reminders or assisting with the loan application process, Nitin's product provides an excellent experience for both businesses and customers.
A loan of Rs 5 lakh borrowed from friends ten years ago has now transformed into a business worth Rs 1000 crore. Nitin and his team have successfully gained global recognition for their product. Their current goal is to enhance customer experience further by leveraging AI-enabled technology.
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