Few people are better suited to Entrepreneurial pursuits than Geetansh Bamania. A curious mind, coupled with a tendency to get hooked into complex real-life problems… he knew he wasn't going to fit the usual mould. An engineer by training, and a problem solver by passion; he has already helmed three start-ups so far…all before the age of 30. Geetansh measures his success not by material means, but by his contribution to the world.
Was entrepreneurship always the plan?
I think I was quite enterprising as a child and developed a passion for solving problems early on. I would say that’s when my entrepreneurial spirit was triggered and went on to become a habit, where I strived to constantly improve my approach. This was one of the key reasons for me quitting my cushy, comfortable jobs, to start my ventures.
Was that how Rentomojo was conceived?
I’d been in the ecosystem for less than a decade; and it gave me valuable insight into the functioning of the e-comm market. It is essentially a buyer’s market. My experience though was telling me that the new generation was not so much into buying, but rather into “experiencing”, and this resulted in the germination of the concept of subscription commerce - subscribing to our lifestyle products for specific durations which turns out to flexible, economical and sustainable.
What have been your biggest challenges on this journey?
Market adoptions of existing ideas are aplenty, but there are very few market creations like an Airbnb or a Lending Club. Creating a new market is a complex journey because creating requires changes in consumer behavior. Since modeling new consumer behaviours isn't easy, it requires much greater conviction and impeccable execution to drive growth. More so, to secure funding - as those are predominantly data driven.
One learning that you'll always remember?
I wasn't very studious while at college, and I had quite a few attendance issues because of which my father was often called to the institute. During one such visit, I was going through a low phase. At that point, my father had just one piece of advice for me. He said, when things have hit rock bottom, it can only go up from there. Now I am more mature, and, in this business, his advice keeps me going. It has always helped me stay on the edge and take the right balance of risky and thoughtful decisions. If some part of your company is not innovating further, the market would beat you eventually.
What inspires you?
We have some of the brightest minds working with us from my colleagues to my investors. They often come up with great ideas while we engage in brainstorming sessions and I draw a lot of inspiration from them. I’m lucky to have the opportunity of cherry picking some important lessons and learning from these fabulous folks.
What does being Self Made mean to you?
To me, it certainly goes beyond the rags to riches story. Considering my journey from a small town, I may be considered to be a success.Self-made to me, however, is the feeling of accomplishment that comes from a greater contribution to society in a significant and meaningful way. For me, just money cannot be a milestone.