Power Talk │ February 2021│Ready to Startup

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ONE STEP AT A TIMEAnmol and myself along with 10 more peopleThat’s what Loom solar was all about .A companythat was multitasking all the time but was full ofpassion to make it big Now we are a team of 100people . Our goal is to expand it gradually.Earlier Loom Solar had tie-ups with solar brandswith good infrastructure and a network of salespersonnel in each state or territory. We alignedtheir sales employees and distribution channel toLoom Solar for a commission of 15 percent. Nowthe Loom Solar has approx. 1500 resellers presentin across 700 cities who are aligned to sell anddistribute. Loom Solar guarantees a three-daydelivery period across the country and alsoprovides end-to-end solutions.At the time of market research we discovered thatthere were many rural areas in India with littleaccess to electricity (especially in UttarPradesh).There was a need for more. When we setout to understand the inside story of the industry,we found that three major problems that sloweddown the acceptance of solar power: There wasinadequate knowledge and understanding of theproduct . People were not very well versed with thebenefits of using solar energy .We also found thatthere weren’t many suppliers who would reach outin the interiors and also promise good after salesservice. Another undeniable fact came to surface .Poor quality of products being manufacturedbecause of use of obsolete technologyPower Talk l Ready to StartUpWith in a year of its inceptionthe organization installed3,500 kW solar panels. Areduction of 99,000 tonnes ofcarbon dioxide emissions,which is equal to planting1,58,000 treesThis lowers emissions and electricity reliance on thenational grid. Bootstrapped Loom Solar hosts onlyluxury brands in the solar industry, but plans tobring more brands on board in the future, includingLuminous, Microtek, Okaya, and Schneider Electric.For such brands, it offers solar arrays, screens,inverters, and chargers online.The company has never sold the products on credit,and is not even planning to do that in future. Inorder to sustain we should always sell product withprofit. Currently valuation of the company is Rs120 croreGOLDEN ADVICEMy advice to the budding entrepreneur is: Dobusiness with trust and focus on profitability. Inthe early stage of the business, you have to buildtrust with customer, supplier, employee andshareholders. Once trust is built, business startsgrowing and rest of the things can be managed.The next more important thing after that brilliantidea is to look for a great team.
You need a few people who can work like you, who canunderstand your idea and work on the project day andnight just like you do. Once idea is validated withsample customer size then marketing becomesimportant things to grow the business.helping our team get certifications duringpandemic. Most of our employees from sales andmarketing department are solar certified byUdemy . Now we are back to work.Also, people believe that funding is the last thing to beconsidered. In my view, every founder must startbusiness as bootstrap and later on once its validatedtake help of funding to grow your business multi fold. Itgives confidence to business idea and productBusiness size may be small to begin with but it growswith time provided you don’t loose your focus onquality and customer retention. Solar industry of Indiais growing by 3 times every year. Our organizationgrowth is growing by 2 times in every aspects. Targetto establish your business with in 3 years of itsinception. It will start seeing growth with time anddemand of the marketEXPERIENCE SPEAKSFEW TIPS• We bootstrapped our company , and also adviceothers to follow the same, it's your hard-earnedmoney. So we spend it wisely compare to theinvestors money• How to reach to the customers? – Digital Medium• Why will our customer trust on us? –Cutting Edge Technology Products & SimplifyService Process• Who will execute all process? – Strong Team• Who will fund to our business? – CustomerFunded• Pandemic and black swan events shouldn’tdampen your spiritsFor us pandemic was difficult too but we managedto grow our company as Power backup Industry alsogrew due to high demand in residential sector. Mostof the people started working from home so theyneeded more electricity with power backup, and ithelped to grow our business .We concentrated onAwards and recognition:• A huge customer base• A very good team• A private limited company with 2 Director .My brother Anmol Anand and myself• Received fastest growing SMB of the yearby Amazon Sambhav Year 2020• DIPP Certified Startup India• Golden Bridge Awards 201• Featured in various publications likePOWER TALK ,SAUR ENERGY, EQINTERNATIONAL, ENERGETICA, PVMAGAZINE, YOURSTORY, BUSINESSSTANDARD,ELETIMES,DEVDISCOURSE, ELECTRONICSBAZAARwww.powertalkwitharchanna.com 53
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Power Talk │ February 2021│Ready to Startup

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