Case gateways. Not many people preferred online payment and

Case study 1

Entrepreneurship
and business startups

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Introduction

Flipkart
was launched
in 2oo7, in India. It is an e-commerce industry. Its founders are Sachin Bansal and Binny
Bansal. Both of them are alumni of IIT, Delhi and are native of Chandigarh,
India. They left their jobs in Amazon to start their own business.  In India, people often prefer to shop in person and buy
goods they see and like. So coming up with an ecommerce start-up was full of
challenges Today, thanks to Flipkart, e-commerce has become one of the fastest
growing sectors in India.

Process of startup

Flipkart began selling
books to begin with. It soon expanded and began offering a wide variety of
goods. Seven years ago when Flipkart was
started as an online platform for selling books, the founder himself went
across the roads of Bangalore to procure the orders from small distributors.
Major challenges they faced was to get tie-ups with the major book vendors as
they didn’t have an offline book store. The second major challenge was the problem of online payment gateways.
Not many people preferred online payment and the gateways were not easy to set
up. Flipkart tackled this problem by introducing cash on delivery and payment
by card on delivery in addition to others. Another problem was the entire
supply chain system. Flipkart addressed this issue by launching their own
supply chain management system to deliver orders in a timely fashion.

Internal success factors

Flipkart has adopted
the strategy to invest a significant portion of its raised fund into supply
chain efficiency, building a better talent pool and technology innovation.
Moreover, taking logistics to all terrains within country including towns and
villages, making payment gateway options secure and easy for the consumers are
other major challenges.

External factors

In this fast pacing
world, shortage of time is big crisis and acts as a big push for consumers to
shop online.

What have we learnt from flipkart success
story

·       
Think Big but Start Small and have
persistence. Keep risks involved in mind.

·       
Flipkart has always been great at
experimenting things.

·       
learn from failures and continue
working towards your end goal, your vision.

·    
Delivering
goods on time is one of the most important factor that determines the success
of an ecommerce company.

·    
In a country
where stereotypes are common, Flipkart managed to break the norm and change the
ecommerce industry in India for ever. Flipkart’s story proves that if you have
a great idea, and you are a doer and not a thinker, success is not far off.