How did you get your idea or concept for the business?
We all know how tough it is to commute within our own city. It's becoming really hard, especially with all the high traffic and congestion. To all the people living in metropolitan areas, you have to agree with me on this. I travel using public transport a few times and every time I travel, it's always a bad experience and this is something I wanted to change. So, I wanted to change the current situation and I am currently developing a product to help all of us. Well, at Versefi, we are developing a product that will help you with that very thing. In the coming months, intra-city commuting and travel will get a lot easier!
What are the various services provided by Versefi?
Right now, we have only one business model. Along with the development of our product that I mentioned above, we are also providing software services to companies and startups. If you need help with your technical and business needs, you can reach out to me and let me know. I can't tell much about the product at this stage and most founders will know why.
What makes Versefi different from hundreds of other similar service providers?
I wouldn't say we are different because of the software services that we are providing. We are different from others because of the product we are developing and the market we have chosen. This market is very rare and the fact that we are creating a product in this market is why we are different from others. This product will change the way you commute and travel within your city. Who wouldn't like this product?
What were the struggles and challenges you faced and how did you overcome them?
I am currently in 11th grade and this is the biggest challenge for me. Some people might say that juggling both of these is impossible. You can still juggle both as long as you don't give up and have the passion to pursue them. You will tend to get distracted by both things. At some times, I can't focus on work because of studies and sometimes I can't focus on studies because of work. Sometimes, I feel that I want to close my company, but I don't want to because I worked hard for it and can't let it go to waste. For this, I have to thank my parents, family, and my school. They are the ones who helped me with my company and didn't leave my side. This is the only struggle and challenge that I have had since.
How do you plan to grow in the future? What do 5 years down the line look like for Versefi?
The first task of mine is to develop the product fully and launch it. I started the "software service" business just so that I could fund the development of my product. After we build an MVP (Minimum Viable Product) or a prototype, I am planning to pitch to the VC firms or angels for the pilot and launch of the product. After that, we are on our own. After launching the product, I want to expand to other metro and urban cities of India like Chennai, Mumbai, Delhi, Hyderabad, and Kolkata.
After 2 years, the full development of the product will be done and we would've done the initial pilot of our product in Bangalore. After that, we would've launched our product to the market and earned steady revenue. The next 3 years are only about growth and expansion in other metro and urban cities of India mentioned above.
If you had one piece of advice for someone just starting out, what would it be?
There are many things that founders should keep in mind while starting out, but I will be listing out the most important one that I learnt. Always have a clear idea and concept of your product. Do continuous research about the product and market. Know what you are developing and who you are developing for. Then, start the development all on your own, don't go to the investors and VC firms right away because we all know they don't invest in only ideas, they need an MVP or a prototype of your product. Then, launch your product and execute like hell.
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