Q 1. Kindly give our readers an introduction to your business. Please include what your business is all about, in which city you are located and if you have offices in multiple locations/ cities.
Ans: CHERISH GOLD a Virtual Jewellery mall with over thousands of brilliantly crafted and intricately created, eye dazzling designs, manufactured by Best Jewellery Houses of India. All Gold & Diamond products sold on CHERISHGOLD.COM are of the highest quality and Hallmark Certified. Cherish Gold has an Easy Return & Exchange Customer Friendly Policy. Cherish Gold can be accessed through multiple platforms like: Apps, Portal, Regional Managers, Ambassadors, Contact Centers or its beautiful and welcoming Physical Stores. All Products Purchased on Cherishgold.com have Doorstep Delivery.
We’re available in below listed cities:
Mumbai
Jhansi
Ahmedabad
Coming Soon !!
Pune
Gwalior
Mathura
Rajkot
Nagpur
Vadodara
Nashik
Thane
Surat
Jam Nagar
Q 2. Kindly give us a brief description about yourself (it should include your brief educational or entrepreneurial background and list some of your major achievements).
Ans: Ms. Nikita Rattanshi is of Indian descent who was born in a business family in Tanzania. In 2013, she relocated to Mumbai, India to provide Executive Director Leadership within the well branded corporate house of Birla Capital & Financial Services.
Equipped with a Masters in International Business education, she quickly achieved prolific practical knowledge about SEBI, GRD, IPO and other national regulatory and compliance issues inclusive of RBI and Banking laws. She excelled in playing a pivotal leadership role in establishing a unique synergy of e-commerce and branded signature stores labelled “BJewelz“ across the wide expanse of India for Birla Gold & Precious Metals Ltd.
Ms. Rattanshi’s immense success and warm public relationship “people skills“ has quickly propelled her as an iconic leader & flag bearer of the very fast growing jewellery industry of India.
Q 3. How did the idea for your business come about?
Ans: “Gems & Jewellery Industry comprises of 2.5 lakh local jewelers. It’s the 2nd largest contributor in Indian GDP. Demand of gold in India is evergreen since the ancient era .the changing consumer behavior pattern In India is more favorable towards the brands for their product quality, service and customer satisfaction. Nowadays customers are very demanding in terms of modern designs and quality standard. So this consumer trend inspired us to develop a unique jewellery Ecommerce platform CHERISHGOLD.COM (World’s Largest Virtual Jewellery Mall) with over thousands of brilliantly crafted and intricately created, eye dazzling designs, manufactured by Best Jewellery Houses of India. All Gold & Diamond products sold on Cherishgold.com are of the highest quality and Hallmark Certified. Cherish Gold has an Easy Return & Exchange Customer Friendly Policy. Cherish Gold can be accessed through multiple platforms like: Apps, Portal, Regional Managers, Ambassadors, Contact Centers or its beautiful and welcoming Physical Stores. All Products Purchased on Cherishgold.com have Doorstep Delivery.
Q 4. What three pieces of advice would you give to budding entrepreneurs?
Ans: The three success mantra that I would like to share across:
1: Be very Focused and clear with your thoughts.
2: Any business Idea looks very appealing in presentations but the success key is business execution .So hard work and patience are of the up most priority for any success.
3: In any evolving business the only growth mantra one should remember is customer satisfaction
Q 5. What would you say are the top three skills needed to be a successful entrepreneur?
Ans: Hard Work
Focus
Dedication
Q 6. How many hours do you work a day on average?
Ans: Totally dependent on work load and clients but an average week is around 40 hours.
Q 7. To what do you most attribute your success?
Ans: For most of the people the definition of success is “Money”.
If you ask me, I’ll define success as “my inner peace”
For me success is not making money, success is when my customers/clients smiles, I am an online jeweler and I sell happiness wrapped inside a box…
For me the five keys elements for starting and running a successful business were/are:
Consistency: In the time I was new in my Industry I saw many people join in but they left off real quick. So the biggest tip I will give you is that; you should stay consistent and always keep on making some kind of effort. Like that quote says “Water cuts through rock not because of its strength but because of its persistence.” In my starting days, I barely made any profit for the first six months. But I kept consistent and the results kept on flowing in.
Be a risk taker: Most of the people I have got in touch with are too shy to take risks, in business one should take risks. That’s the only thing that can bring you on top.
Relations: In business one of the most important thing is your relations with your colleagues and clients, a business is mainly built up on the base of relations.
Don’t be afraid to say “NO”: You should know what is healthy for you and what is not, if you think you are taking a step that might turn out to be bad, say “NO” to it and anyone associated with it.
Think Long-term: One of the biggest mistakes I have seen most of the business owners make is that, they only think about tomorrow, as a business owner myself, before signing a deal, I look through a vision of how this will effect on my business in the next five years.
Q 8. How do you go about marketing your business? What has been your most successful form of marketing?
Ans: Social Media is the best platform to create awareness among the masses about your products and offerings. It is the best way to reach your potential & best suitable customers.
Q 9. Where did your organizations funding/capital come from and how did you go about getting it? How did you obtain investors for your venture?
Ans: It’s totally Self-funded venture as we don’t believe in sharing the equity stack.
What is the best way to achieve long-term success?
Anticipate by seeing sooner and scanning wider
Challenge the status quo
Interpret and connect the dots
Decide and take courageous action
Align people around innovative ideas
Customer Centric Strategy
Learn by experimenting and turning failure into opportunity
Q 10. Where you see yourself and your business in 5 – 10 years?
Ans: Capitalizing the Maximum Market Share by adapting to the latest trends and Customers Satisfaction.
Q 11. Excluding yours, what company or business do you admire the most?
Ans: I don’t admire a specific company, but I do admire the way new businesses are evolving the way that they do business and more importantly treat their staff. Not so many years ago now, a job would have been sitting at a desk with your computer for 8 hours straight with the boring formalities that come with an office job, but now several companies including Facebook, Google and Innocent Smoothies just to name a few have an ethos where your work environment should be somewhere where you feel at home thus making you more productive.
I love this concept of a more free and relaxed workplace, I think it will really bring out the best in people and I hope that it becomes a lot more common over the years to come.
Q 12. How important have good employees been to your success?
Ans: Good employees are essential to the success of any business. It is important not only to have employees that are qualified but employees that care about what you are doing as a businessman. If you can get an employee to buy in to what you are doing, then you have a great chance of succeeding, because you can work to trust the employee with things that you would normally have to do yourself. Having employees that believe in what you are doing is vital to the growth of the company and to your overall success. As it is said, you can’t do it all by yourself and in business this is the truth. You can’t do it all by yourself and you need employees that care and take some ownership in what they are doing.
Q 13. How long do you stick with an idea before giving up?
Ans: Never give up. Though, that means you may kill one business, go back to work for a corporation for a while, and try another startup again. Rinse and repeat. In all serious, no traction, no cash, and tensions in your founding team indicate that it might be time to quit. Sit down with your team and figure out what pivots might be possible, and what the drop dead criteria actually are. Then give yourself a time when you will make a go, no-go, decision….
Q 14. What motivates you?
Ans: Customer Satisfaction & seeing growth in business based on that
Q 15. What are your ideals?
Ans: A man of personality can formulate ideals, but only a man of character can achieve them.
Q 16. How do you generate new ideas?
Ans: Challenge assumptions
Reword the problem
Think in reverse
Express yourself through different media
Q 17. How do you define success?
Ans: I define success as living my true purpose and having a positive impact on the lives of people by uplifting them and inspiring them to think and act in ways that they may not have considered before. Success is giving it everything you have and doing your best, and having satisfaction at the end of the day that you have done that. How you respond to failure is also a measure of success. Being willing to take a risk, learn from the result, and being wise enough to correct your path shows character. As to how I measure up to that, I face each day with a positive attitude and I do my best to do it better today than I did it yesterday. Continual learning and improvement are daily objectives.
Q 18. How do you build a successful customer base?
Ans: Keep up and maintain excellent customer support and service
Increase your customer base by asking for opinions
Keep your website content fresh
Promote your business and offerings on social media networks
Q 19. What is your favorite aspect of being an entrepreneur?
Ans: Income and influence are both wonderful, but my favorite part is the freedom, I really like the risk and uncertainty of taking something that’s just an idea in your head and building it into something that touches thousands of people
Q 20. What has been your most satisfying moment in business?
Ans: When you watch your business plan start coming to life
Q 21. What do you feel is the major difference between entrepreneurs and those who work for someone else?
Ans: There are lots of differences between an entrepreneur and someone working for another person. However major difference is that someone is paying for your time and it is on your employer’s terms you will operate. Whereas an entrepreneur has his time and does what he wants on his terms and at his pace
Q 22. What kind of culture exists in your organization?
Ans: Our company culture doesn’t have to be about Ping-Pong tables. Simply providing employees with a sense of safety and well-being and creating a policy where everyone looks out for each other can easily suffice.
Q 23. In one word, characterize your life as an entrepreneur.
Ans: CuriosityQ 1.
Company Detail:
Company name Cherish Gold
Address 315-319, 3rd floor, Crystal Point mall, Near D.N Nagar Metro station, New Link Road
City Mumbai
State Maharashtra
Zip Code 400053
Tel No 022-62137000
