THE IMPORTANCE OF HAVING THE RIGHT MENTOR TO HELP SCALE THE ENTREPRENEUR TO GREATER HEIGHTS
Jun16

THE IMPORTANCE OF HAVING THE RIGHT MENTOR TO HELP SCALE THE ENTREPRENEUR TO GREATER HEIGHTS

Publication: Entrepreneur India Online Spokesperson: Vikram Bhatt, Founder and Director, Enrich Salons & Academy Topic: The Importance of having the right mentor to help scale the entrepreneur to greater heights Date: June 12, 2017 THE IMPORTANCE OF HAVING THE RIGHT MENTOR TO HELP SCALE THE ENTREPRENEUR TO GREATER HEIGHTS  Overview and takeaways from Vikram’s entrepreneurial journey: Enrich started as a friendly venture, where two friends supported the third who was the only one who had domain knowledge and technical know-hows about the beauty business. A few years down the road, this partner decided to move on, at which point the remaining two made the choice of continuing with the venture – learning the ropes and evolving it into what we know today as the Enrich Salons and Academy chain. Since we were new to the domain, we brought what we knew from our work experience into the business. This proved to be rather advantageous. If innovation is thinking out of box, then that happened naturally since we were literally from outside the box – in this case the beauty industry. Here are a few learnings from our journey so far: Organic growth of business: A business that generates positive cash-flow, with no debtors, is capable of achieving good organic growth. Ensure that there is minimal external funding with maximum turnover so as make your business more self-sustainable. People-centric offering: The primary aim of any venture is value-creation. If one is able to offer something that people love and require, one has successfully won over clients. Positive goodwill is created which generates frequency of repeat visits and loyalty value. For the client, the requirement is generally dual-fold: Extrinsic, which is the need to look good and Intrinsic, which is the need to FEEL good. Thus, the importance of the service provider was magnified. Building trust among clients: Trust of the client is of utmost importance. Ensuring optimum level of quality service and keeping your client happy is where the true key to a successful business lies. Working in the personal space of the customer inherently increases the likelihood of the customer giving you their complete trust. Transitioning a luxury into a necessity: An important factor of any business is to keep up with the current social developments, trends and habits of the end consumer. With social development, the aspirational outlook of people will get enhanced. Thus, certain sectors such as grooming would experience good growth, since there would be a high percentage of people for whom this will become a necessity. Cluster approach: A prime focus should be on making the business profitable first and only then follow the expansion...

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IBHA panel discussion
Jun09

IBHA panel discussion

Today’s consumer has a plethora of choices to decide from for his or her needs – right from toilet paper to televisions, from insurance to travel destinations. The clinching factor is, each of these choices is fighting to be the one the consumer goes for, unlike the days of yore where competition was limited and the dominant brand called the shots. How does a brand gain that foothold in the consumer’s mind, heart and eventually, wallet?   A consumer will first and foremost go for a brand which is relevant to them. One will not choose McDonald’s when they’re looking for a new car. One will not visit a Mercedes showroom when looking for a budget family car. Thus, how does the consumer know what is relevant? Through communication and marketing from the said brand. Something which has drastically changed from what it was earlier, while relying on the same underlying principles. What is same: Identifying, engaging and converting customers What is different: Alignment of online and offline touchpoints to ensure a seamless customer experience What is new: Mediums: Youtube, Netflix, Amazon Metrics: Likes, shares, views, reach Language: Slang, memes, fads such as the Ice Bucket challenge Expectations: Seamlessness, omnipresence, 24×7 Personalisation: Custom marketing for individual customers Through this, runs a thread of keeping it personal, engaging through stories and emotions.   What stands out here is that now, entry barriers have been removed, making it the simplest of tasks for anyone to connect to anyone. A citizen can reach out to the President, a customer can reach out to a CEO, and a fan can reach out to their favourite movie star. The advantage is that conversations can be even more personal, real time and viral. Recently, an AC not functioning tweet to the Railway Minister got addressed with the AC being repaired before the train reached the next station – something that was unthinkable a while ago. The flipside is that this now allows everyone to have a voice – including trolls. Its relevance to personal care is: – Easy access to information – Peer to peer sharing – Access to products across the world – Faster cascade of new technologies and developments. To cope with this, the new age marketer, or the company, has to be quick on the uptake, be ready to learn on the go, and be hands-on. This is essential so as to not fall behind your competition who has been quicker in adapting. All this and more was discussed during a recent panel discussion at IBHA (Indian Beauty & Hygiene Association), which is a non-profit organisation with big, medium and small-scale companies...

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Enrich partners with Symbiosis Skills & Open University for School of Beauty & Wellness
May20

Enrich partners with Symbiosis Skills & Open University for School of Beauty & Wellness

A big day for the skills initiative in the country and a very big day for Enrich. On 16th May, Symbiosis Open Education Society announced the establishment of Maharashtra’s first Skill Development University – The Symbiosis Skills & Open University, at Kiwale, the Pune end of the Mumbai Mune expressway. The University was enacted through a bill passed by the State Legislature on 3rd May 2017 Skill education is a challenging domainand in order to meet with the requirememts – here are some of the highlights of the way in which this University is planned The curriculum will be set along the National Occupation Standards (set for Basic, Intermediate & Advance Skills ) and the National Skill Qualification Framework (that has set credit levels for Certificate, Diploma & Degree programs) There will be recognition of prior learning as well as multiple entry and exit levels – given the fact that this is the domain of skills and the target audience has a high requirement to be employed – chances are they would require the options of doing their learning in stages (exactly for the same reasons there sill be possibility of banking of credits and transfers to different streams too) Skill assessments, multiple modes of teaching pedagogy and vocational and emplyment guidance will also be made available As Knowledge Partners in the Beauty & Wellness domain, Enrich will be involved in the Infrastructure, Training, Assessment, Placements and Research. A state of the art academy is at the final sage of completion at the University campus in the School of Beauty & Wellness. It is a fully equipped academy with all facilities and latest equipment that can get students to learn these skills in an hands on manner. Qualified Trainers who would have gone through the rigour at Enrich will be delivering courses ranging from Certificate & Diploma Programs going up to a Graduation program- a BSc in Beauty & Wellness – which by itself is a first in the...

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Enrich partners with Beauty & Wellness Sector Skill Council for recruitment!
May17

Enrich partners with Beauty & Wellness Sector Skill Council for recruitment!

Recently, Enrich and B&WSSC entered into a mutually beneficial relationship for recruitment of people graduating from beauty courses offered by the Enrich Academy. It is a matter of great pride that Enrich can now meaningfully contribute to the development of talent in the Beauty and Wellness domain, which has till now been faced with the challenges of inadequate training infrastructure, non-standardized training curricula and limited access to quality trainers. Since 2010, when Enrich opened the doors of its first Academy, we have grown from strength to strength, leveraging existing knowledge, and adding to it learnings from our salon operations, as well as international exposure shared by our knowledge and product partners. This has since blossomed into academies with locations based on five cities, which together train more than 700 students per year. These students who successfully complete their respective courses are well prepared to enter the Beauty and Wellness industry, with product and technical know-how. With the current Government’s focus on employment, employability and empowerment, along with the financial backing offered to B&WSSC by the National Skills Development Corporation, it is a good time for skill based sectors to flourish. Enrich and B&WSSC will provide strong support to...

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New Salon Opening – Bandra Hill Road
Apr21

New Salon Opening – Bandra Hill Road

It gives us great pleasure to announce that we’ve become bigger and better, all thanks to you! Our brand new salon, bigger yet in the same place, is all set to deliver an even more exceptional experience to...

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