Entrepreneurship is the trend but many entrepreneurs fail because they don’t focus on the nuances. Instead, it is the fancy concepts that they are fascinated with. Meet Gowtham, the founder of E4Entertainment who has started his business with just 700 Rupees as investment and today, he makes millions.
Reason to choose entrepreneurship
Back in the year 2012 when Gowtham just completed his engineering course, he was looking out for a job and landed in one that did not give him the satisfaction. Perhaps, he was not motivated enough to continue with the job due to pressure and lack of independence given to the employees. At that point in time, he decided that he can choose entrepreneurship.
As I just quit, I accidentally received an opportunity from my college to organize its annual cultural fest – MITAFEST and that’s how my entrepreneurial journey started.
It happened accidentally but was of complete interest to him.
My first 10*10 office
Gowtham was popular during his college days for organizing events and entertaining people with the right elements during an event. He converted this strength into an opportunity. Soon after the Mitafest opportunity, he received projects of minimum profits that kept him going. Though his family was not excited about this venture of him, he worked tirelessly to make them feel proud of his decision one day.
In the first year, there was an equal number of ups and downs and he was not overwhelmed with his choice but still continued with a hope that he will scale it better. So, the first investment that he made was Rs 700 and it was towards the visiting cards that he printed and distributed to customers. He served as an event manager for family occasions!
The savings from the events he organized during the first year led to the setup of a new office which was nearly 100 sqft.
Establishing as an end-to-end wedding service provider
Starting a business is easy but sustaining is difficult.
Soon after he set up his office, he began to realize that he needs to improve his technical knowledge to survive in the ever-competitive event management industry. He then enrolled in an MBA course and learned the ABCs of the industry.
It was this course that taught me how to market, how to plan, what customers think, how to set profit margins, how to offer attractive services, how to stay unique and more.
Not only that, to lead a successful business in this industry, he has also done his homework by performing the following:
- Learning about the cultural traditions of every sect
- Finding the delicacies of importance for each group of people
- Establishing a balance between what the customer needs and what E4Entertainment can provide
- Learning photography techniques and understanding what a wedding album looks like
- Connecting with industry experts to enhance organizational skills
- Making use of cross-marketing to promote the services in all possible channels
- Building customer relationships by providing them value regularly
Doing this homework has enabled Gowtham to observe a shift in his earnings as well as knowledge. By then, he also gained expertise in organizing public events, corporate events, and family events.
Today, he has headed over 1000 events but is still keen to improve himself. When we spoke about competition, he also attributes to his unique services that no other provider has offered to the customers.
A complete wedding at Rs 3 Lakh is what E4Entertainment assures to its customers. Sounds exciting, right? He believes that this excitement is the reason for the growth of customers every year.
Roadblocks and success stories
When we asked him on what his roadblocks were, he responded instantly about the common troubles faced by entrepreneur during the initial years such as financial, operational and support from family. He also recalls the humiliations he has had when he was a novice but they kept him aiming higher. Consequently, his success stories are interesting to know too.
- When you give value, customers return and this is the secret followed by E4Entertainment to scale the customer ratio.
- His responsibility and growth brought his kith and kin together.
- He has also bagged a few projects that were once awarded only to top-notch service providers in the market.
In order to differentiate from other service providers in the market, his previous office setup had a simulation feature where customers get a chance to experience a candlelight dinner, a photography shooting, the video output, garlands, invitations and more.
Planning to start an event management business? Remember to do these things:
- Choose a niche
- Offer what others don’t
- Have a contingency plan
- Prepare to do A to Z by yourself. Don’t depend on your human resources.
- Don’t choose it because you like it. Get to know it better from an industry expert.
- Prepare yourself for failures because they hit you first.
- Plan and execute on a trial basis before you reach customers
- Begin with your family and friends
- Customer reviews are important. Take them seriously.
These tips have not only multiplied the revenues of E4Entertainment but also contributed to the sustainability and expansion of the brand.