Viraj Sheth, Co-founder of Monk Leisure, believes it is rather necessary for entrepreneurs to seek out their associate co-founder with whom they construct their enterprise. He personally thinks that it’s advantageous for entrepreneurs to associate with somebody whom they know personally or socially.
The entrepreneurial journey for Viraj started proper after finishing his commencement together with his school senior Ranveer Allahbadia, popularly referred to as BeerBiceps on social media.
“He was two years senior to me in school. We had been nonetheless pals and we labored on a few tasks collectively and did some internships collectively. That’s how we constructed a rapport and thought why don’t we begin one thing collectively. As soon as he had graduated, I nonetheless had two years to finish my diploma. He took that point to construct his YouTube channel, which about 100,000 subscribers, and that’s after we re-connected,” Viraj says.
Viraj started his entrepreneurial journey after Ranveer requested him to handle the manufacturers that approached for influencer advertising. Discovering alternative within the phase, the duo launched Monk Leisure, a digital media startup, in 2018, to concentrate on offering expertise administration, video manufacturing, social media administration, and influencer advertising.
“We’re about 45 to 50 staff members proper now. By way of the form of manufacturers, we’re working with about 75-100 odd manufacturers. We’ve been working lots within the fintech and edtech house proper now, particularly with COVID-19, we needed to pivot. Earlier than COVID, we had been working lots with pure play shopper product manufacturers,” he provides.
Launching a digital media startup
Viraj explains that his mother and father weren’t fairly pro-business. Like most mother and father, they wished him to take up a traditional job after engineering.
“Think about some 21-year-old going to oldsters and saying I wish to depart my steady job and do one thing on YouTube. They’re going to suppose I’m silly. So I instructed them that I’ll do the job for a couple of months. The day I make sufficient cash from this enterprise, I’ll stop my job and take this up full time. I had the job for about three months after which I put in my papers. So that’s the way it all occurred,” he says.
Monk Leisure has scaled up and now works with a number of the hottest manufacturers together with Nykaa Man, Groww, Skillshare, and GOQii amongst others.
Talking about beginning up at an early age, Viraj explains that whereas he did really feel he was coming into into enterprise with out job expertise or with none concept about how the company world works, he ultimately made errors and has additionally discovered from them and grown.
“I’ve made lots of errors. Tomorrow if I had been to start out a totally totally different startup, I might know the place to not go and what to not do,” he provides.
He explains that Ranveer principally focuses on Beer Biceps as a result of the extra it grows, the extra Monk Leisure may even develop. Whereas Viraj primarily focuses on bringing gross sales, Jhalak Rawal later joined the Monk Leisure staff because the COO to handle the enterprise.
On this episode of 100X Entrepreneur Podcast, a sequence that includes founders, enterprise capitalists, and angel buyers, Viraj spoke to Siddhartha Ahluwalia about his entrepreneurial journey, beginning a digital media firm, and the way forward for influencer advertising.
Take heed to the podcast here
01:14 – Beginning Monk Leisure with Ranveer Allahbadia
06:33 – Working part-time on buying shoppers and Quitting a steady job
08:07 – Rising the startup on the age of 25
10:11 – Present scale at Monk-E
15:35 – Constructing monetization & enterprise mannequin with creators
19:39 – What differentiates them from different Influencer Advertising and marketing Companies?
22:16 – Setting the appropriate practices for influencers whereas interacting with manufacturers
23:40 – How is India’s influencer market house evolving?
26:27 – Segmenting creators
30:51 – Two guidelines to develop the viewers on Twitter
35:22 – Structuring and organizing the workflow at Monk-E
39:50 – Learnings from Ranveer Allahbadia