Managing the business online is a dream, solution to which is being provided by Delhi based Startups, Filing Bazaar. Filing Bazaar is the a leading Online Corporate Legal Services provider, Provides Support for Startups and MSMEs. It is the largest destination for online Company Registration, Compliance, GST filing, Professional Market Place etc.
A engineer by profession, Mr. Bipin Singh founded Filing Bazaar. To know more about the Filing Bazaar, its journey and how it is helpful for the Startups and MSMEs, team of Chamber of Startups sat down with Mr. Bipin Singh, Founder Filing Bazaar. What follows is an edited version of the conversation.
<!--[if !supportLists]-->1. <!--[endif]-->Can you tell about key features of your startup?
One of the Most Important aspects of a Start Up is that it is Lean. The journey from a startup to an established company is marked by transition from chaos to order, a team comprising of generalists to specialists. Filing bazaar Legal services Private Limited India’s fastest growing legal services platform with head office in New Delhi.
<!--[if !supportLists]-->2. <!--[endif]-->How do you see this epidemic, an Opportunity or Threat for Startups?
The effects of the novel corona virus on the economy are as adverse as its impact on the health of the people and their lives. People are losing their jobs and some are being denied their salaries, companies are shutting down their operations because of low revenue generation and shortage of labors. The brunt of this economic depression caused by COVID-19 can also be seen in the startup ecosystem. For my point of view it is the threat for startups.
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<!--[if !supportLists]-->3. <!--[endif]-->Please tell about your industry and opportunities for Startups / MSMEs within this sector?
Finance Minister Nirmala Sitharaman, the Union Budget for 2020-21 had some significant announcements for MSMEs and the startup community. MSMEs were aimed at reducing the stress on working capital requirement for startups. It will create also a single window e-logistics market and focus on generation of employment, skills and making MSMEs competitive.
<!--[if !supportLists]-->4. <!--[endif]-->Kindly explain the business model of your company?
For my point of view a business model is a company's plan for making a profit. It identifies the Company’s services the business will sell, the target market it has identified, and the deliver the work within the time limit.
5. How the thought of starting your own enterprise did come in your mind? What encouraged you?
My uncle is a business man. At the time when government start online process for doing all legal work. He is very tired to manage all the documentation online. He came and said to me “Why not instead help people find Legal services online?" That planted the seed of the idea in my mind. From there, it grew into being a provider of every kind of legal solution, online.
6. What is the biggest challenge you faced as an entrepreneur while establishing your startup?
The problem of entrepreneurship and many new business owners aren’t prepared for it until it happens. As the founder of my startup company, I’ll be expected to come up with the ideas. When a competitor emerges, it will be our responsibility to come up with a response plan. How long will our business exist? How profitable will our business be? Will customers like our services?
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<!--[if !supportLists]-->7. <!--[endif]-->Who all are your competitors in the market?
Competitors are the backbone of a strong marketing strategy. After all, if you can’t identify your competitors and their marketing tactics, you’ll struggle to differentiate yourself and your product from the crowd.
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<!--[if !supportLists]-->8. <!--[endif]-->What are the key trends are you observing in the market?
To identify market trends for long-term business planning Keep track of company influencers and publications ,Absorb up-to-date research and trends reports, make the most of digital tools and analytics to assess company behavior, Listen to our customers and Competitor observation.
<!--[if !supportLists]-->9. <!--[endif]-->What are your expansion plans in near future?
I would like to focus on customer satisfaction, a wide range of offerings and a technology focus in future.
10. Can you share few lines of business priorities for next 1 year?
We will be a billion dollar business serving more than a million clients each year.
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<!--[if !supportLists]-->11. <!--[endif]-->What type of reactions you have received?
In today’s Internet-driven world, customers have more power than ever. If customers have a positive customer experience, they will share this experience with friends, family and connections, which in turn can lead to new business. All at zero cost. Always listen to your customers. They have complained for a reason and it is important to understand why they are complaining. Research has shown that customers care more about quality than a fast response – Take time to listen and understand what their problem is. To maintain quality from all support personnel, use a customer service knowledge base.
12. <!--[endif]-->What is your marketing strategy?
Publish a blog. Advertise on a specific social media platforms (e.g. Facebook Ads, Instagram Ads, link din Ads). Search engine optimize your digital content. Create a giveaway and/ or contest. Test different campaign types to determine what works best for our customer .Create an email campaign.
If you have a Success Story of your business, please write an email to us at advisor@indianstartupschamber.com or contact Mr. Sandeep Bisht at 9999893315.