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Staying true to what we do has always been one of the reasons for Lenskart’s success. However, this was not the case from the very beginning. One issue Lenskart saw in its early days was fragmentation, but good founders know when to set sail. Helping people find the right visionary assistance is a path led by Peyush Bansal, and his course prowess has given the founder the honor he is receiving today. The tongue-in-cheek remarks he often sees on Shark Tank India season 1 scenes actually apply to his real-life situation as an entrepreneur as well. He may make mistakes, but he corrects them quickly, and second, he focuses on what he truly believes in.
Photo by Subi Samuel for Indian Entrepreneurs
Globally, Lenskart is the most technology-invested eyewear company in the world today. In India they are delivering glasses within 3 days and next year they are looking at next day delivery.
Talking about his investing style, Bansal believes, “If I don’t see a clear vision, I won’t invest. Sometimes, I might get distracted here and there, but I say that about 90% of my trades. If it’s a technology co-founder, then my investment confidence will be higher. Third, if I feel that this person has been able to attract talent and has the ability to bring other co-founders, then I think it’s ok.”
He went on to add, “It doesn’t matter what they are today, to be honest, I don’t think you can even tell the difference between what we were 10 years ago and what we are today. Companies adjust all the time, solutions change all the time. Ultimately what matters It’s the thought process.” Clearly, the bet on him was potential. Even when hiring at Lenskart, Bansal follows the same principles.
Talking about his investment prospects, Bansal mentioned, “If I do my startup investment through a due diligence firm, 70% of them say it won’t make money, and if I look at the first season, my most successful investments are those Got rejected. But I told them, you said you weren’t making money, and now you’re making money.” People who followed their instincts went and bought a Japanese company – a first for an Indian company.
After Shark Tank, the entrepreneur has become an influencer in the startup community. To this, Bansal argues, “Of course I want to increase Lenskart’s influence. My influence is a by-product of Shark Tank. I don’t track my influence and I don’t want them to increase or decrease. It won’t be for me.” Say it doesn’t matter. All I know is that I have to learn and adopt this channel. The tech-savvy founder said he didn’t know much about new-age social media technology.
Talking about his productivity hacks, Shark said, “One hack I did was to decide on days for specific tasks. I had to decide where I wanted to spend my time. So, dividing days by inbound and outbound tasks has helped I.”
He went on to add, “There’s nothing better than Google Calendar, and Microsoft’s to-do list is really good for keeping track of action items or discussion points. You’ll see all the to-do lists on my phone. So I think it helps you manage things effectively.”
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