TomorrowMakers ™

Pooja Bhayana is taking people back to the barter era in a cool new way

05 February 2018
Pooja Bhayana aims to build a parallel barter economy
Pooja Bhayana, co-founder of Let’s Barter India, offers a peek into her entrepreneurial journey, gender bias, and her advice to aspiring businesswomen.
 

A lot has been said about the challenges that women entrepreneurs face. For example, it was found that startups headed by women received only 2% of all the equity funding raised last year. But very little has been said about women who have crossed all kinds of hurdles to run successful businesses.

Pooja Bhayana is one such woman entrepreneur. Pooja, along with a friend Sahil Dhingra - started a venture - Let’s Barter India – in 2015 with just a Facebook page. Today, this online exchange platform for products and services has an app, and its Facebook page has close to 1.9 lakh members.

Here’s what Pooja Bhayana has to say about her entrepreneurial journey.

Family, education and personal experiences

I was born and brought up in a very protected environment. When I was 17, I went to Singapore to pursue a graduate degree in mass communication. This experience gave me a lot of exposure as I lived and interacted with people of different ethnic cultures. After working for a magazine in Singapore for a while, I wanted to live closer to my family. Hence, I decided to return to India. 

Related: From a farmer’s son to a sought after name in India’s technology sector - Here’s the inspiring account of Ravi Suhag’s life

Moving from a career in public relations to starting her own venture

 

My job in public relations was a high-intensity one. It was a while before I realised that I did not want to be a part of the rat race. My brother motivated me to think of the bigger picture – “where do I wish to see myself after ten years?” That’s when I decided that it’s “now or never”. So, I worked in different start-ups for a year to understand their working process better. Let’s Barter India wasn’t planned at all. At the risk of sounding cliched, I started something of my own to “find happiness” and to be able to set my own pace of work.  

Challenges she faces

While I don’t like focusing on the negatives, I did encounter some challenges because I’m a woman. There have been instances when investors had invariably turned to Sahil when they had questions about our venture. It seemed like they presumed that Sahil does all the work. I’ve also had investors ask me about my future plans – “what happens when you get married?” Another challenge we faced was making Let’s Barter India stand out from all the countless other start-ups.

Related: Turning the ‘impossible’ into ‘possible’: Poonam Dalal Dahiya’s story of grit, persistence and conviction

Role and duties in running Let’s Barter India

I am involved in every aspect of Let’s Barter India. Initially, I handled content and graphics. Now, I also manage social media, operational process and fundraising.

Funding the venture

We started with a Facebook page as we had very little working capital. Initially, we sought help from people that we knew, and later we began approaching investors. We did not want to choose an investor just for the sake of funding our start-up. I think the relationship between startup founders and their investors is much like a marriage. We wanted to ensure that our investors share our mindset, values and vision.

Related: On top of world! Radhika’s unstoppable spirit is scaling every mountain

Response to Let’s Barter India

The response has been overwhelming, considering we did very little marketing, except for some events. For example, we organised a social book barter event where people exchanged their books with those bought by others. It was all organic – our customers came to us on their own.

How Let’s Barter India is different from its competitors

I think what makes us unique is that we aren’t here to promote an app, we are here to encourage the bartering culture and create a community. Our aim isn’t to give our customers something they will like, but to understand what they want and then build a product around that.

Related: Safecity Founder & CEO- Elsa Marie D’Silva discusses women safety and why it’s the need of the hour

Biggest support on the journey so far

Our biggest support has been Dr Ritesh Malik – who runs Innov8 Coworking. He suggested turning our idea of barter into a business venture. He also helped us with funding in the initial stages. He helped open many doors for us. He has always treated Sahil and me like equals, and never let me think less of myself.

Advice to other women entrepreneurs

When it comes to impressing an investor, your business needs to make financial sense – it is not just about the ideas but also about execution. You should be able to explain to them how you plan to return or grow their money.

Also, don’t think you are not capable of achieving your dreams and don’t wait for someone else to help make them come true. You can be your own hero.

Conclusion

Today Pooja Bhayana is an inspiration to all women who want to fight and are fighting gender biases, as they try to establish their place in the business world.

 
 
Topic:
 
 

MOST VIEWED CONTENT

6 Reasons why you should invest in mutual funds

6 Reasons why you should invest in mutual funds

Reasons why mutual funds could be the perfect investment option for you

Life insurance types simplified

Life insurance types simplified

Broadly speaking, there are only two types of life insurance policies – ones that offer only a death benefit (Term insurance) and others that offer death + maturity or investment benefit (e.g. Endowment Plans or Unit Liked Insurance Plans).

Do not make the same mistakes I did by ignoring term plans

Do not make the same mistakes I did by ignoring term plans

If you give any of the mention excuses, you might be inviting a trouble in yours and your loved one''''s life. Read and take a smart decision of buying a term plan to create a shield around you and your family

What makes buying life insurance online click?

What makes buying life insurance online click?

From buying mobile phones to placing orders for grocery items Indians are getting hooked on online shopping in a big way. Till a few years ago life insurance was mainly bought offline but now customers are also showing increasing interest in buying life covers online.

5 things you must know before you buy life insurance

5 things you must know before you buy life insurance

Life insurance is another such thing, and the right time to learn about it- any time between when you start earning money to when you’re forced to stop.

Why should you avail life insurance?

Why should you avail life insurance?

At times when household budgets are spread thin, investing a part of your hard-earned money towardslife insurance might seem unnecessary.

8 Reasons to buy insurance online

8 Reasons to buy insurance online

8 smart reasons to buy insurance online!

boy

We would love to hear from you!

Question, comment or concern? Our contact form is the best way to get in touch. We will respond to you within 5 working days.

NEWSLETTER