Creating a mark in the online world through relentless hard work and dedication in the extraordinary, traditional land scattered with gilded pagodas-Myanmar (Burma)!
Check out the inspiring story of Rishabh Kumar, the co-founder of go.com.mm, who has created a mark in the online world in the extraordinary, traditional land scattered with gilded pagodas-Myanmar (Burma), where internet usage has been more or less restricted. Armed with impeccable educational credentials and sharp business acumen, Rishabh Kumar’s relentless pursuit and dedication led to evolution of an idea in shape of an online store - go.com.mm. It was certainly a feat considering that the first internet connections were established only in the year 2000 in Myanmar! The advent of the new elected regime in 2011 as opposed to the prior military dictatorship brought in political and economic reforms including internet freedom. In this scenario, where internet penetration was still low, Rishabh faced an uphill task of setting up an online store. He fought against all odds and now the e-store has achieved success buoyed with the firm support of the StoreHippo team. Let’s have a look …
Tell us something about yourself
I am Rishabh Kumar, the co-founder of go.com.mm, an online store which deals with selling of tickets for various events held in Myanmar. I am an alumnus of IIT Guwahati and London Business School, from where I imbibed the principles of management and developed the knack of business.
How did you start an online business in this segment?
While I was working for a firm in London, I had an idea to initiate business in Myanmar. I pitched this idea to the investors, who granted initial money as investment, and then we set up a small team. I moved to Myanmar and initiated a project in form of an online store, which eventually took shape of go.com.mm.
What is your Unique Selling Point (USP)?
Our store is dealing with selling of online tickets. In fact, ours will be the first tickets to be sold online in this country, where the concept of retail via internet is still uncommon.
What challenges did you face while starting an online business?
I came here only one and a half years ago and what I observed was that technology had taken a backseat and there was no particular online presence in Burma. People were not open to the concept of an online store itself! Though the scenario changed with the transition of a military regime to an elected government, the online business was still restricted. The internet freedom was limited and convincing suppliers was not an easy task. The inventory system was not digitized, computer use and knowledge was sparse. The interest level of the suppliers was low and they were resistant to change and were skeptical of revenues. In fact, the feasibility of an online business was not easy.
How did you overcome your challenges?
I drew inference from live examples and case studies. I explained to the investors how giants like Flipkart and Amazon, and even many other smaller firms had grown into successful companies. I gave them a list of websites who had achieved success via e-commerce. I provided them the right business perspective and the investors and the suppliers finally realized the potential of the e-commerce industry.
How did opening an online store help your business?
By opening an online store it was easy to reach our target audience. There are many events slated to be held with New Year round the corner in April 2015 in Myanmar, and a majority of the tickets will be sold through us. We eventually plan to sell tickets for multiple events like concerts, fests, contests, and the like.
How was your experience with StoreHippo?
My experience with StoreHippo had been wonderful. All my problems were resolved to my satisfaction and mu online store has proved to be a success. All this would not have been possible without the support and response of the team at StoreHippo. I would strongly recommend StoreHippo to all those entrepreneurs who wish to go online.