MBA Graduate Turns Millionaire by Selling Umbrellas

Eyeing an opportunity in an untapped market at the right time to kick-start a business is what it takes to become successful. Pratik Doshi, Founder & CEO of www.cheekychunk.com, saw this opportunity to build a fruitful business, which had him sell umbrellas. What was next? Well, he became a millionaire in a couple of months. 

It’s ‘Raining’ Money!

The brainchild of Pratik, Cheeky Chunk was established in the year 2014 when he marketed a few umbrellas in a small market. Considering the positive response, he decided to start a new company selling innovatively designed umbrellas at affordable prices.

Pratik invested his savings that he earned in his college days. With that amount, he managed to get 500 umbrellas manufactured that he sold among friends and family. The money was also spent on designing the product creatively and developing the website. Initially, it was difficult to get enough revenue; however, after working hard by slogging, hustling and giving everything for more than half a year, he finally started minting a good amount.

In for a Penny, in for a Pound

To make a flawless umbrella, it is important to make ideal cloth, frame, panels, handles and finally stitch it to perfection.  Pratik ensures to source the best frames from Rajasthan, cloth from local domestic suppliers and has contractors for printing and stitching.

With the increasing number of orders, it became difficult for him to pack each order individually, generate invoices, crosscheck the product and take care of other jobs. Eventually, Pratik started expanding his business by hiring some young and innovative minds. Each umbrella is quality-checked and water-tested for defects; hence, making rate of returns a rare possibility.

Opening Umbrellas to the World!

Marketing umbrellas was not a cakewalk for Pratik. He barely had penny to save for marketing. Fortunately, his photography skills saved the grace and played a key role in Cheeky Chunk’s marketing, and continues to do so. Another smart move was to present the product to people connected to the target audience. In addition, paying evangelists/bloggers to write about the product as reviews were impactful.  Pratik also tried to create an emotional connect (ESP) with Cheeky Chunk and people by making them love rain and tried to invoke special memories related to rains.

Now, the journey in his own words…

Q. What inspired you to start your own venture?

A. All my life, I had this inner desire to start something new, something that had not been done by anyone before. My idea of starting Cheeky Chunk totally fit this criteria. I had accumulated about a lakh in savings by the time my college ended and felt this was the best place to invest them. I was pretty clear in my mind that what I’m creating is what I would like to see. Even if I failed, I would learn a lot. The fact of venturing on an unknown path, creating something new and doing something totally different to what others my age were doing inspired me to do so.

Q. Starting a business of your own – was it always on your mind or was it something you figured out during your job phase?

A. I was too lazy to apply for a job, go to ten places for an interview and let others decide what my worth is. I wanted to be responsible for my own actions and earn whatever I deserved. Starting a business was more of a passion rather than a source of income, to be honest. I loved the idea of using a doodled umbrella as opposed to a black umbrella when it rained. I hoped others would love it too. And they did.

Q. Entrepreneurship is in vogue these days. Do you feel educational institutions in India should have more courses related to this field?

A. I don’t believe any course can teach you entrepreneurship. You only figure out and learn when you get on field. What I feel educational institutions should focus on more is how to make the students think better, think clearly and encourage courses that nourish new ideas. No one can be an entrepreneur or survive as an entrepreneur just because it is a cool thing to do or it is in vogue. Entrepreneurship can’t be taught, but the process of looking out for new ideas and implementing them can be.

Q. What are the challenges you faced as an Entrepreneur?

A. I’ve faced challenges on each and every step as an entrepreneur. Creating the best possible design, ensuring the quality of goods, pitching the product to customers, managing the operations, marketing the product – each phase has its own challenges. If there were no challenges, everybody would be rich and successful. It is the perseverance and technique through which one overcomes this challenges that differentiates a successful business from a failed one.

Q. Considering you’ve been hiring people for your venture, what is the scope for MBA graduates in the job market?

A. All companies are searching for applicants who are passionate about their job and are sincere in their work. An MBA degree does help you land a job, but it is your interpersonal skills and hardwork that takes you ahead on the corporate ladder.

Q. What are the important pointers that one must keep in mind when starting a new venture?

A. a) Don’t be afraid of failure! Consider your new venture as a project that will give you tremendous amount of learning. Invest in it as an experience that you’ll cherish all your life.

b) Don’t start a new venture just because it’s a cool thing to do! Figure out a gap in the market or a problem that needs to be solved. Work on the best possible method to solve the problem and be passionate about solving it.

c) Don’t do it for the money! It’s never worth it! The satisfaction you get when you see a random person using your product on the road will never be equal to x amount of rupees you earn.

Q. What have been your key learnings in your business journey so far?

A. a) As Swami Vivekananda says – “Fortune is like a flirt. She will run away from you when you want her badly, but if you are not interested in her, she will come chasing you”.
b) Those who judge you don’t pay your bills. So let them be.
c) Differentiation from the market comes from overcoming challenges. The more setbacks you face, the lesser your competition.

Q. How do you see your company growing in the next five years?

A. Our aim is to establish our company on a global scale in the next five years. Whenever a person hears the words ‘monsoon’ or ‘rain’ they should think about Cheeky Chunk and their designs. Monsoon is a season for many, but for us it is an emotion.

Q. Any message for students who wish to become Entrepreneurs.

A. Entrepreneurship makes you tired. However, there’s a lot of good waiting on the other side. Get tired! That’s where you’ll meet yourself.

-- By Sarika Rana & Nidhi Bahl