The Dynamic Business Duos

1. 2021 | Volume 03 | ISSUE 06 Gaurav Tatwawadi FOUNDER GLOBAL BUSINESS MODELS Models that Revolutionized the Global Business Paradigm BUSINESS CHOICES Sole Proprietorship v/s Partnership - A First Time Entrepreneur's Dilemma Autumn Breeze Vaibhav Tatwawaadi FOUNDER THE DYNAMIC BUSINESS DUOS Filmz www.insightssuccess.in

4. Editor’s Note S uccessful business leaders build their own journey towards prominence, while guiding others along the way. They are dedicated towards shaping the destiny of their organization. These exemplary leaders spearhead by example and never shy away from accepting challenges. They are efficient frontrunners who set right examples for the employees, the organization, and the clients. These dynamic businesspersons possess great competence and character. They properly guide the employees and focus on deriving better results for the organization. ENTERPRISING BUSINESS LEADERS WHO ARE TRANSFORMING BUSINESSES CREATIVEL Y Dedicated business leaders engage their employees in a constructive manner and boost their moral. They encourage them to participate actively towards achieving the organizational goals. These business leaders focus on creating a positive work culture, while nurturing gentle behaviour among the employees. They are of the opinion that inculcating leadership skills among the future generation leaders is the key towards future success. Devoted business duos focus on making the employees aware of their roles and responsibilities.

5. Ananda Kamal Das ananda@insightssuccess.com They nurture and utilize the strengths and skills of their employees to accomplish the organizational goals. For these leaders, positive feedback from the employees is very important. They respect the free will of the employees and provide employees with the confidence to take on stiff challenges. help in better productivity and growth of the organization. The innovative pair of entrepreneurs overcome indomitable odds with sheer confidence and a smile on their faces. They are confident, humble, and focused on leading their organization effectively. Such leaders are naturally respected by the employees; they are ready to learn and work under the leadership of such astute personalities. Hence, in the issue, ‘The Dynamic Business Duos’, Insights Success recognizes the leading group of entrepreneurs who are transforming their business, while majorly impacting the industry as well. These committed frontrunners are good at communicating their vision and utilize information quickly and efficiently for the welfare of the company. They promote innovative practices and procedures to empower their employees. The primary goal of these dynamic duos is to ensure larger progression of the organization, while utilizing the potential of technology and delivering excellent customer services. The dynamic duo of businessmen combines their innovative mindsets and deliver unique solutions to different problems. They work together as a team and also promote harmony and understanding among the employees. These are forward-thinking leaders, who believe that healthy relationships among employees

6. C O N T E N T S Autumn Breeze 08 Filmz When Creativity and Entrepreneurship Meet Cover Story

7. C O N T E N T S 16 GLOBAL BUSINESS MODELS Models that Revolutionized the Global Business Paradigm 24 Articles BUSINESS CHOICES Sole Proprietorship v/s Partnership - A First Time Entrepreneur's Dilemma 20 DR. DISHA DINAKAR Providing Natural Care Effectively 28 UTKARSH SINGH Providing Greener Solutions with BatX Energies

8. Editor-in-Chief Sumita Sarkar Managing EditorDarshan Parmar Assisting Editor Ananda Kamal Das Contributing Writers Ashish, Renuka sales@insightssuccess.com MARCH, 2021 Corporate Offices: Chief Designer Asha Bange Designing Head Priyanka Rajage Co-designer Deepanjali Jena Insights Success Media and Technology Pvt. Ltd. Off. No. 22, Rainbow Plaza, Shivar Chowk, Pimple Saudagar, Pune, Maharashtra 411017 Phone - India: +91 7410079881/ 82/ 83/ 84/ 85 Email: info@insightssuccess.in For Subscription: www.insightssuccess.in Operations Head Megha Mishra Business Development Manager Nandan Deshpande Asst. Manager Ashwini Pahurkar Business Development Lead Tejswini Whaval Sr. Business Development Executive Pravin Yalameli Insights Success Media Tech LLC 555 Metro Place North, Suite 100, Dublin, OH 43017, United States Phone - (614)-602-1754 Email: info@insightssuccess.com For Subscription: www.insightssuccess.com Technical Head Pratiksha Patil Technical Specialist Amar Sawant Digital Marketing Manager Amol Wadekar SME-SMO Executive Atul Dhoran Circulation Manager Tanaji Cover Price : RS. 150/- https://twitter.com/insightssuccess Follow us on : www.facebook.com/insightssuccess/ We are also available on Copyright © 2021 Insights Success Media and Technology Pvt. Ltd., All rights reserved. The content and images used in this magazine should not be reproduced or transmitted in any form or by any means, electronic, mechanical, photocopying, recording or otherwise, without prior permission from Insights Success Media and Technology Pvt. Ltd. Reprint rights remain solely with Insights Success. Printed and Published by Insights Success Media and Technology Pvt. Ltd. RNI NUMBER: MAHENG/2018/75953

9. THE Management Du s Company Name Brief The Tatwawadi brothers from Nagpur, who are a household name today in the entertainment industry, shared their passion, journey, success and opinions about the entertainment industry and their company with The Insights Success. Gaurav Tatwawadi and Vaibhav Tatwawadi Co-founders Autumn Breeze Films Utkarsh Singh and Vikrant Singh Co-founder and CEO; Co-founder, Director, and CTO The exceptional duo Utkarsh Singh and Vikrant Singh hold prolific personalities with young, engineered Entrepreneurial minds. BatX Energies Dr. Disha Dinakar and Mrs. Vijaya Dinakar Global Business Advisor, Managing Director Digvijaya Herbals is a 100% natural and organic beauty brand that offers an innovative range of skincare, haircare, health, and wellness products founded by Dr. Disha Dinakar who is the Global Business Advisor and Mrs. Vijaya Dinakar who is the Managing Director. Digvijaya Herbals

10. Autumn Breeze When Creativity and Entrepreneurship Meet Filmz

11. C O V E R S T O R Y Gaurav Tatwawadi FOUNDER Vaibhav TatwawAadi FOUNDER

12. E With prestigious professional degrees from reputed institutes, the obvious expectation would be to make a career in the same profession. The Tatwawadi brothers, however, have broken the shackles of such age-old thoughts. quipped with conventional degrees but making careers in unconventional fields require a lot of courage, grit, talent and support. marketing. When talent and perseverance are coupled, there is no way that success can evade you. The brothers from Nagpur who are a household name today in the entertainment industry, shared their passion, journey, success and opinions about the entertainment industry and their company with The Insights Success. Excerpts: How did you venture into this field? G - I always wanted to be an entrepreneur. I started exploring the content space as a potential growing business around three years back. At that time, OTT had just started picking up in India. We believed that increasing content consumption would lead to content war and the content requirement would grow year on year with more and more people getting high speed internet access. This we believed would happen for long format, short format and even digital ads. That was the starting point when I decided to make my career in this field. In addition, Vaibhav having experience of 10 years as an actor was an advantage. So, we decided to venture into films and ad films. Though it seems a conventional business model we have innovated a lot in terms of fund raising and execution for both films and TVC by reducing the TATs and overheads substantially Despite completing engineering from a reputed institute, Vaibhav chose to chase his passion of acting immediately after he bagged his degree from the College of Engineering Pune (COEP). His younger brother Gaurav completed his engineering from the same college and went on to study MBA from MDI, Gurgaon for the same reason – to pursue his passion. Gaurav always wanted to be an entrepreneur. An actor by profession Vaibhav, has made a name for himself in many Hindi and regional films in nearly a decade. Gaurav, an entrepreneur worked in many start- ups and corporate companies before establishing his own business. With similar passions, albeit in different sectors of the same field, the duo started their company, Autumn Breeze Filmz that is into film production, creative content for branding and digital

13. The Dynamic Business Duos · as compared to a conventional production house. V: I used to participate in acting competitions since school days. I also was a state level badminton player. I was planning to pursue badminton as career. But it was in 8th standard that I realised it was not sports but acting that I wanted to pursue. I did few plays with the theatre groups in Nagpur. Then I went to COEP for my engineering. That was a turning point. I got groomed as an actor in my college. I won prizes in many intercollegiate drama competitions and from there things started falling in place. The journey started from Marathi serials to Marathi films to Hindi films and the journey continues. How has it been without any background in this field? G: I was the cultural secretary while pursuing my B Tech from COEP and that was my only small and limited exposure to this sector. Luckily, Vaibhav has an experience of 10 years in both Marathi and Hindi entertainment industry, as an actor though. But he knew people in the industry and that was definitely a big help. For the business part, I had been in touch with many producers because of Vaibhav and we would keep on bouncing ideas about the industry and the working style. Through those discussions, I realised that it has to be a balance of both creative calls and business calls. And with the present core team we have all the elements needed for a successful production house. We have great artists who have great creative vision. They bring in new concepts on the table. Basically, our core strength is to map a budget for a particular concept. Hence, we believe that there is no concept which is good or bad. It is just that if it is mapped to the right budget then it makes sense both in terms of business and creating whatever it is - it may be a web series, it may be an ad film, short film or anything. G and V: We basically started with ads for various brands. Our first Hindi feature film has been announced recently and it will be coming up in 2021.

14. always wanted to be an actor. So, my parents were very supportive about it. Their only condition was that we should complete any degree we wanted because education is of prime importance (which even we brothers believe), and then follow whatever you feel is your passion. How was the journey coming from Nagpur to the entertainment industry in Mumbai and making a name as well in very less time? V: Being a Nagpur guy, I did find it difficult to adjust to the pace of Mumbai. And I feel one improves over a period of time with the right kind of exposure. Irrespective of the city, one always faces challenges when he or she opts for a non-conventional career. Vaibhav was very clear that he wanted to be an actor. I did lot of things. I worked in various sectors like FMCG, finance and capital markets. I explored quite a number of things. But I knew that eventually I need to start something on my own which I love doing. So, I began my entrepreneurship journey during my engineering days. Though all of them failed, I knew that this is what I like to do. As mentioned above, sensing the opportunity in the content space we decided to venture out in this space and as always the family has always been very supportive. G: For both Vaibhav and me, COEP has played a major role. It was Pune that introduced us to cultural professional world. I knew I wanted to be an entrepreneur but was not very sure on the sector. Vaibhav always wanted to be an actor so he kept meeting many people. He did a lot of theatre and ads in Marathi, Hindi, Telegu and English. Whenever he used to shoot, I used to tag along and observe how this industry and business operates. So, it happened step by step for me. You ventured into this field and the pandemic happened shortly after that. How has it affected relatively newcomers to keep their heads above water? G: We started two years back and the pandemic is around a year old. In the first year we were quite focused on the concepts and getting the right scripts. We believe that script is the soul of the film. So, we What was your family’s reaction to both brothers entering into the entertainment industry despite engineering qualifications? G: Fortunately, our family has been always very supportive. But it was not that we both decided beforehand and ventured into the entertainment industry together. Initially, it was Vaibhav, who

15. were scouting on that front and for managing the cash flow we were doing few ad films. We did work with Sterling Holidays and few start-ups to begin with. Coming to your Covid question, frankly it has been difficult for everyone not only in this industry but also for other industries. need to be little commercial when it comes to theatrical release but at the end of it the person who is going to see the product is same audience. So, the script and the soul remain intact. In terms of business, it has definitely impacted not only small production houses but big ones too and no one knows how long this will go on. It has been a tough year for all industries including the entertainment one. In terms of fund raising, we did a lot of syndication to raise the funds and we have found out a couple of innovative models which I don’t think are presently happening in terms of fund- raising part for films. So, the fund-raising model which we have adopted has been unusual way of doing it and which is not normally the market practice per se but that has been an interesting journey during these tough times. I have met a lot of good financers who have been supportive from the day we met them. Plus, the trust they have shown in our team has been commendable Tell us more about your partnership. You complement each other – one being an actor and the other a producer. G: Basically, Vaibhav being an actor he comes with lot of connects and industry experience. During discussions, he brings a lot on the table in terms of creative calls, right kind of team for the selected script etc. My job is to take care of overall business strategy and vision of the company People were already into OTT since it came before Covid but box office hits are a different experience for a film maker. Your take? G and V: Personally speaking, these two are two different distribution channels per se. At the end the product is your film whose soul is the script. So you might be a bit arty when it comes to OTT while you We have introduced artificial intelligence (AI) based marketing tool. This tool, NeuroKit, will tell you where exactly a user is bound to see in the creatives, video or 2-D even before it is launched. For example, in a hoarding the user will see few spots and not the entire hoarding. Keeping this in mind, we have developed Neurokit. It helps optimise the design - be it product

16. design, poster release, video, TVC or your film promo. Now, there are eye tracking tools as well in the market to map where a user is looking but it is a costly and time consuming affair. Neurokit will cut down on cost and TAT substantially and can be used by brands, designers, social influencers etc. external world but if the internal world is in a mess one cannot remain sane in the current world of cut-throat competition. Other than this I don't want to suggest anything to the youth as I believe that today's youth has amazing vision and talent. As young generation of entrepreneurs in the entertainment industry what is your perception and idea about the industry at the moment, and what future does it hold in general? G: With so many cultures, languages and different tastes India is a unique market. Every state is like a country in itself because of the different tastes and different likings of content consumption. Right now, what is happening is that people are getting exposed to lot of national and international cinema which has started impacting the quality of the content they are consuming. I have seen many people seeing South Asian films and films of other languages. The exposure to the new content is huge and I believe it will keep on increasing. And seeing the penetration of Jio and OTT platforms in rural areas as well, I believe there is lot of scope in terms of content creation. The content that everyone likes every time is different and they always need something new. There is lot of scope for all kinds of content creators. I am very optimistic about the industry’s growth prospects and strongly believe there is still lot of scope in the content creation space. What is your success mantra? V: I believe the one thing that is of utmost importance for success is concentration. Attention without tension brings success. What have you envisioned for the future? G and V: One film is already lined up. It is a romantic love story. We have not yet finalised the name. We have developed number of scripts. Other than that, we have an ad vertical in which we are trying to reduce the turn- around time. At present the TAT for digital ads right now is around 7-8 days. We are trying to bring it down to 3-4 days. At the moment, we are working on three verticals - ads, films, and web series. What message would you like to give to today’s generation? V: The most important thing the youth of today should practice is meditation. I strongly feel that we have got so many resources when it comes to improving the

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18. MODELS THAT REVOLUTIONIZED THE GLOBAL BUSINESS PARADIGM 16 | March 2021 www.insightssuccess.in

19. Global Business Models E the Industrial Revolution or the internet's emergence? We are unable to compare. What we should do is identify some of the characteristics of the current changes in business models and consider how and why they affect industry, government, and society. MODELS THAT REVOLUTIONIZED THE GLOBAL BUSINESS PARADIGM very generation believes it has witnessed the biggest historical upheavals. However, this belief is debatable. How can the printing press' invention be compared to The term business model refers to a company's idea for generating a profit. A business recognises the products or services it plans to sell, its target market, and any expected expenses. Business models are important for both, new and set businesses. They help new, evolving companies gather investment, recruit talent, and motivate management and staff. Businesses that are established should regularly refurbish their business plans or they will fail to expect trends and challenges ahead. Business plans help investors assess companies that interest them. The business models for tomorrow's businesses are being developed right now. A business that is unable to reinvent itself and create a viable business model has no future, it will fade and die. We are in the midst of change, and where there March 2021 | 17 www.insightssuccess.in

20. is change, there is chance. Those who are incapable of seeing opportunities only see threats. The future has already begun. Here are five examples of different business models: Advertisement The advertising business model has been around for a long time and has evolved as the world has moved from print to digital media. The model's foundations revolve around creating content that people want to read or watch, and then showing advertisements to your readers or viewers. Business models can be broken into three parts: • Everything that goes into making something, including design, raw materials, manufacturing, and labour. • Everything that goes into selling that item: marketing, distribution, service delivery, and payment processing. • Pricing strategy, payment practises, payment timing, and so on are all factors that influence how and what a customer pays. Affiliate Although the affiliate business model is similar to the advertising business model, there are some key differences. The affiliate model, which is most commonly found online, uses links embedded in content rather than easily identifiable visual ads. Understanding Business Models A business model is a high-level strategy for running a profitable company in a specific market. The value proposition is an important part of the business model. This is a description of a company's products or services and why consumers or clients find them appealing, preferably stated in a manner that distinguishes the product or service from its rivals. Brokerage Brokerage firms help buyers and sellers communicate and complete transactions. They charge either the buyer or the seller, or both, a fee for each transaction. A real estate agency is one of the most common brokerage firms, but there are many others, such as freight brokers and brokers who help construction companies find buyers for dirt they excavate from new foundations. A new business model should also include anticipated startup costs and funding sources, the company's target customer base, marketing strategy, a competitive analysis, and revenue and expense forecasts. The plan may also specify opportunities for the company to collaborate with other well-established businesses. Successful businesses have business models that enable them to meet client needs at a reasonable and long-term cost. Many companies periodically revise their business models to reflect changing business environments and market demands. Customization/concierge Some businesses take generic products or services and add a personal touch to the transaction, making each sale one-of-a-kind. Crowdsourcing Crowdsourcing is when you can get a large number of people to contribute content to your website. To generate revenue, crowdsourcing business models are commonly combined with advertising models, but there are many other variations of the model. Threadless, for example, allows designers to send t-shirt designs and pays a percentage of sales to the designers. When deciding whether or not to invest in a business, the investor should learn how it makes money. This entails examining the company's business model. To be sure, a company's business model may not reveal everything about its prospects. However, an investor who knows the business model would be able to interpret the financial data more effectively. A good business model will help you figure out things like your business idea, what problem are you solving for whom, how you'll build customer value, how your product or service will reach customers, how your company will remain competitive, and all the revenue and costs you can expect. This will help figure out a lot of aspects in a particular firm or a business. Types of Business Models Just like different businesses, there are different types of business models too. Traditional business models include direct sales, franchising, advertising-based, and brick-and-mortar stores, to name a few. Businesses that blend online retail with brick-and-mortar stores or with sports organisations like the NBA are examples of hybrid models. - Ashish Chandgude 18 | March 2021 www.insightssuccess.in

22. Dr. Disha Dinakar Global Business Advisor ‘‘ “ ‘‘ “ www.insightssuccess.in 20 | March 2021

23. The Dynamic Business Duos Dr. Disha Dinakar P only applied to non-woody plants. Today, “herb” refers to any part of any plant used for aroma, flavoring, or medicine, including those that come from trees and shrubs. A “herb” may be a fruit, a bark, a flower, a leaf, or a root, as well as a non-woody plant. By using herbal beauty products, you cannot only get radiant and glowing skin, but you will be able to address all skin problems including acne, blemishes, pigmentation spots, wrinkles, fine facial lines, blackheads, etc. The result is flawless and clear skin bouncing with health when used regularly. lants that are used as medicines have been referred to as “herbs” for over 4000 years by European and Mediterranean cultures. Originally, the term “herb” passion to launch an organic beauty brand. So along with my medical practice, me and my mother founded Digvijaya Herbals Pvt Ltd. in the year 2019. All the ingredients of the products we offer are 100% natural and sourced from our private family farms. Within a short span of time, we have established ourselves well and have content customers in 40 countries around the world. What were your teething problems? How did you overcome it? There were quite a few challenges initially. We had to spend a considerable amount of time on the Research & Development for the ingredients and formulations of our products. We wanted to reach out to the customer as an entirely new brand and hence, wanted to get everything right. Digvijaya Herbals is a 100% natural and organic beauty brand that offers an innovative range of skincare, haircare, health, and wellness products founded by Dr. Disha Dinakar who is the Global Business Advisor and Mrs. Vijaya Dinakar who is the Managing Director. The brand aims to revolutionize the way beauty products are consumed in the Indian market. The entire range of Digvijay herbals employs potent organic formulations and naturally sourced ingredients, that administer a higher concentration of active ingredients in each product to provide safe and natural care effectively. The products are formulated by a panel of doctors who work relentlessly to deliver products infused with natural extracts for maximum potency. Please tell us about the personalities/business duos of the company, their background, and their contribution to the success of the company. I come from a family of entrepreneurs and feel truly blessed to be working under the guidance of my parents. My father, Dr. M.N Dinakar is an entrepreneur and also the Chairman of the Digvijaya group. My mother, Mrs. Vijaya Dinakar is the Managing Director of the firm, the mastermind behind Digvijaya. My mother and father have been my pillars of strength and have extended their immense support due to which I’m able to juggle between my practice and business. Below are the highlights of the interview: Share with us the history and journey of your company since its inception. What brought the two of you together? Hailing from a family of entrepreneurs, I always wanted to start my own venture. My mother and I are strong believers in organic products and their benefits. We both read every label before we purchase any product. Indian market is vast with a wide range of beauty and health products. Hence, I thought it best to fuse my ambitions with my mother’s How do you complement each other in the business? Do you share different responsibilities, or do you look into everything together? Me and my mother have always been the best of friends and like to share our responsibilities. Since I have a full- time practice, my mother manages the office and I focus on the financial and marketing aspect of the business. March 2021 | 21 www.insightssuccess.in

24. seriously and use it to improve our products, in any way possible. What is the secret behind the two of you being together and rise together? We have a similar thought process which makes it easy for us to work together. How did you manage during the lockdown period? What are you doing now to bounce back to business? Covid-19 has changed the face of the beauty business. It certainly did cause a hit in between but the ever-increasing public awareness about the kind of products they are using helped us. Everybody is now on the lookout for choosing the right products for boosting immunity and health. Since Digvijaya herbals is a 100% natural and organic beauty brand, we have been able to serve our customers well. Mrs. Vijaya Dinakar Managing Director Today, the company’s products are sold on its website and on social media platforms. The brand directly reaches out to customers and the mode of shipment is through air freight, cargo, etc. Apart from the domestic market, the company has shipped to 45 countries covering the Middle East, Europe, Far East, America & Australia. How do you resolve the difference of opinion, if any? A difference of opinion is bound to exist when there is more than one person involved in the decision-making process. But since it’s me and my mother, we respect each other’s opinion and try to understand the other person’s perspective. This has helped us resolve our difference of opinion and come to a mutual agreement. Where do you see yourselves and your organization in the near future? For future plans, our vision is to develop a wide range of organic and wellness products that will be useful to everybody irrespective of their age or gender. We want to create products that are result-oriented and made of natural and pure ingredients. We have already opened distribution outlets in Singapore and Sri Lanka and wish to expand to the middle east in the near future. We wish to see Digvijaya Herbals cross the 100cr milestone soon. What are the challenges in your business? How do you tackle them? Given that I have a full-time practice, I had to cater to my clients’ needs and also manage Digvijaya herbals with its procurement, queries, and feedback. However, my mother stood by me as a pillar of strength and helped me manage both, my practice and the business. What makes your organization stand out from the herd? We are a certified organic brand and do not compromise on the quality of the products. All our essential oils are procured from the Middle East and most of the herbal ingredients are sourced from our very own Digvijaya Farms itself. We are a consumer-centric brand and try our best to cater to our client’s needs. We take customer feedback very 22 | March 2021 www.insightssuccess.in

26. Sole Proprietorship v/s Partnership 24 | March 20 21 www.insightssuccess.in

27. Business Choices Sole Proprietorship Partnership A First Time Entrepreneur's Dilemma T enter the innovative environment of starting something new and taking control over their life and business. his is the most common dilemma for entrepreneurs when they The answer to this perplexity depends on how one is planning to structure the business. Are they looking to expand the business with sizable employees or the structure would be similar even after substantial growth? Census data shows that about 71 percent of businesses are comprised of sole proprietorships whereas 8 percent of businesses are run by people involved in the partnership. When talking about sole proprietorship – the owner has full control and is responsible to make all important decisions regarding that business. Sitting March 2021 | 25 www.insightssuccess.in

28. on the top, he is not answerable to anyone and can input his innovative ideas, skills, and abilities to the table of his growing business. who brings new concepts to the table, might not be considered a good choice for your creation. If you are looking to move ahead with a partner then it is important to find someone who balances your expertise and potency. Every business requires an innovator mind that is proficient in his space, as not all entrepreneurs are mastered in their particular areas. Therefore, finding a person who can stabilize the business with his ability could be fruitful for your start- up. Ensuring that your partner can handle any challenge that will come on the way and outshine at doing it, then that is the partner you are looking for in your business. It is also important to choose someone who understands your strength and weakness and at the same time shows his trust on your ideas. Someone who shares both the positive and negatives aspects of owning and handling the business is the primary goal. Choosing someone who pushes you to get out of your comfort zone, take risks, and move ahead in the right direction becomes a terrific business partner. The one who loves to play with his own ideas and experiments with different business models is the exact match for a sole proprietorship. He can bring his ideas into reality and make things happen with the expertise to concrete the business. Putting an extra effort in a start-up can sooner build a fortune with a good advantage. With solely handling a business, owners can input their unique and special brilliance confidently, keeping them on their toes. Entrepreneurs, who desire to stay free in putting their ideas and thoughts and take actions with maximum satisfaction, thrive in the journey of self-employment. The owner is entirely liable for all the liabilities incubated by the business. The existence of fewer complexities in sole proprietorship makes it more popular among small-scale businesses and individuals who are more indulged in self-employment. Try to stay away from the ownership of 50-50 with your partner as it only raises complexities when it comes to making final decisions. Do your homework before entering into any kind of partnership; try to understand them according to their skills, advice, and nature of the partnership, familiar with their way of taking decisions over the course of your career. Small proprietary is exciting and at the same time brings challenging opportunities for people who find it difficult to work for others. Such people look for loopholes in the market and implement their imaginations to start a new venture. Hence, the new entrepreneurial venture expands the economy rapidly, by bringing quality products at an affordable price and maximizing the employment of local people. Thus, the control of wealth is no longer concentrated within a few brands and benefits society significantly. Eventually, the real purpose of establishing a partnership is to assist the partners and to achieve higher financial results together. That would be possible if each of the partners would work independently. Operating together, partners can successfully form a powerful blend of capabilities in generating greater economic results. People enjoy working in sole proprietary as it is a business form with little to no paperwork and minimum fund to establish the business, but again it varies depending upon the country and state. The entities of self-employment only adhere to few regulations as they are not required to invest their time and resources on various government requirements. When it comes to income tax, compared to the shareholders, sole owners are only entitled to pay personal income tax on the earned profits. - Renuka Singh When choosing a partnership for running a business, several fundamental things should be understood by the owners. When an entrepreneur has a clear vision and goal for his business then asking for a new partner, 26 | March 2021 www.insightssuccess.in

30. Mr. Utkarsh Singh Co-founder and CEO ‘‘ “ ‘‘ “ 28 | March 2021 www.insightssuccess.in

31. Utkarsh Singh T issue, Mr. Vikrant Singh, Co-founder, Director and CTO along with Mr. Utkarsh Singh, Co-founder and CEO of the company BatX Energies started working on a solution which is dedicated to the welfare of the environment, bringing sustainability with quality. Their high-quality products are aimed to provide safety, performance, and life cycle reliability. The symbol of trust and quality is reflected through their products, which are specifically integrated for all kinds of applications, whether simple or advanced. he natural resources in the Indian environment are depleting at a faster pace than before and there is a need to acknowledge the situation. Identifying this problem we developed products which are commercially available, accessible, and efficient. Also, while working with different stakeholders, the demand and specifications vary and meeting their expectations is also one of the difficult tasks for us. Along with this, the cost incurred in production and then managing it, also became one of the biggest challenges for us. To retain our employees, we acknowledged the hard work of our team with bonuses and incentives to motivate them, which resulted in commitment and hard work furthering the growth of the brand. 2. Please tell us about the personalities/business duos of the company, their background, and contribution to the success of the company. Coming from an engineering background and having similar interest in greener solutions and sustainability, BatX Energies evolved thought into practicality to provide greener solutions to the nation by ensuring a safe future with ecological balance and maintaining the highest standards of quality. The only company in India working on both Developing Lithium-ion batteries as well as Recycling of Lithium-Ion batteries was contributing to the circular economy. Ltd. It was founded on 7th July, 2020 after 2 years of rigorous R&D. Their wide product portfolio ranges from Hi Tech Driven and powerful battery packs for automobiles to grid storage and equipment mechanization to smaller packs for consumer electronics. The dynamic duo Utkarsh Singh and Vikrant Singh hold prolific personalities with young, engineered Entrepreneur minds. Utkarsh has always been inclined towards working for community development, be it in his early professional days he has worked in the rural villages Madhya Pradesh, Haryana and Rajasthan which gave him an insight of what's happening in the roots of India and mobility loopholes there. He believes in developing meaningful products and taking them to global markets and his experience is proof of this vehemence. Utkarsh also has been vehement to bring a difference to people’s lives with his contribution and founded SAVERA (Students as Volunteers in Education to Reach and Assist) during his academic years at BML Munjal University, a system where 50+ underprivileged people received remedial education daily. Below are the highlights of the interview: 1. What were the teething problems? How did you overcome it? Being a start-up and setting our foothold in this sector was a challenge in itself. Coming from an engineering background and sharing a similar experience, we did a thorough research and identified the problem. The product and the quality were not up to the mark in terms of commercials. Observing the need and gap to attain this Vikrant brings with him profound knowledge of energy storage and operational brilliance to implement it. Having envisaged that recycling of lithium-ion battery materials is the key for growth in electric transportation, he ensured that the company is committed to developing advanced March 2021 | 29 www.insightssuccess.in

32. Everyone has a different set of working and observing things, which has helped both of us to grow and strengthen our bond and build BatX as a differentiator in the industry. Our core strength lies in working independently and fulfilling responsibilities which we have set for all our employees. We believe in empowering our Employees and developing a sense of responsibility, which is our success mantra. Mr. Vikrant Singh Co-founder and CEO 4. What are the challenges in your business? How do you tackle them? There is a lack of resources and raw material in India, for the industry we operate in. But we have been efficient in tackling and creating our own channels by curating our own resources, which has helped us in our business operations. 5. How did you manage during the lockdown period? What are you doing now to bounce back to business? The lockdown period was tough for all of us. We invested our time in research and rigorously tested our products to improvise and develop them in a fruitful manner. In order to push our business in the right direction, we are now engaging with more stakeholders and developing innovative products to push which will help us regain our lost track. 6. Where do you see yourselves and your organization in the near future? We aim and look forward to placing ourselves in the recognized 5 companies under Renewable Energy sectors. We want to be a differentiator in the industry by being the best organization in Renewable Energy Sector as so far, we are the only company doing both recycling and battery manufacturing in India. lithium- ion battery and cell solutions using first and second-life Lithium-ion cells for many different applications that facilitate mobility and storage. Vikrant’s sparkling spirit and unquenchable quest is accentuated in his profound R&D expertise, which has led the product portfolio of BatX Energies Pvt. Ltd. to constantly evolve and diversify. Vikrant is very well versed on working in advanced materials at the Center of Advanced Materials at BML Munjal University, which is a Hero group Initiative. 3. How do you complement each other in the business? Do you share different responsibilities, or do you look into everything together? Knowing each other for a long time and working together for about three years, we both believe in easing the stress from each other’s shoulder, while working together. 30 | March 2021 www.insightssuccess.in