The entrepreneurial landscape in the country has seen a huge shift with more women entrepreneurs joining the game. In this edition of B360º, we talked to some young and successful women entrepreneurs about their ventures, challenges and the current entrepreneurial scene.
[nextpage title="Sneha Koirala" ]Sneha Koirala
Age: 29
Company: That! By Studio Sarcastic
Title: Founder
Year of Establishment: 2017
Initial Investment: Rs. 60
About the company: That! specialises in witty humour-filled lifestyle products and designs that add splash of refreshingly original artistic twist which makes it down-right relatable. It started with a postcard, and now has over 18 products.
The most challenging aspect of doing business in Nepal?
System and policies; they are not at all business friendly. More than market, it’s these things that actually limit the entry of new projects.
The difference between initial entrepreneurial days and now...
You start understanding your business better. You start refining what you are doing and what you have to offer. From ‘WHAT am I trying to do’, now I have moved to ‘HOW am I trying to do’.
The best business advice you have got
Understand how much you want to invest and how will you manage it rather than rushing into invest. It is from an accidental mentor.
Does gender have anything to do with doing business?
Yes, you tend to get underestimated often.
The most important lesson as an entrepreneur
Patience and consistency. It’s one thing to have a big dream, but to materialise it you have to take small steps; small but well-thought of firm steps.
What is lacking in the country’s entrepreneurial scene?
Innovation. We copy ideas easily. Especially, in the art scene there are very few people who are researching and honing their skills. Also, we majorly lack long-term vision. 90% of start-ups don’t have sustainable plan in place. It’s more like “okay if this doesn’t work, I will start something else.”
Where do you see your company in the next 5 years?
A well-known design led Nepali life style brand.
The most satisfying aspect of being an entrepreneur
Being able to do things rather than waiting for others to do it.
Your recipe for survival
Consistency, originality and patience.
[/nextpage] [nextpage title="Bibhuti Neupane" ]Bibhuti Neupane
Age: 26
Company Name: Naagiko Honey
Title: Co-Founder / CEO
Year of Establishment: December 2018
Initial Investment: Around 7 Lakhs
About the company: Naagiko Honey is a locally registered honey producing and selling company in Makwanpur, Hetauda. Naagiko means hamro or ‘ours’ in the Chepang language. It was established in 2018 with a determination to provide pure organic honey and build the community through sustainable and scalable model which includes innovative livelihood initiatives.
Naagiko Honey represents the Chepang community and beekeepers who have been producing high quality honey. Our farmers harvest honey in the Silinge mountain located in Makwanpur where the bees feast on an abundance of Chiuiri flowers. Naagiko Honey is all natural, organic, unheated, unprocessed and raw honey which has high levels of vitamins, minerals, anti-bacterial, anti-oxidants and anti-fungal ingredients.
The most challenging aspect of doing business in Nepal
Lack of start-up supporting policies, lack of raw materials and resources available in the market for early stage manufacturers like us; but the biggest challenge is the mind-set of people. There are a very few people who are self-motivated and who understand the dynamics of working with start-ups in Nepal.
The difference between initial entrepreneurial days and now...
Well, it has just been two months that Naagiko Honey has been registered. But, since I have been in this entrepreneurial ecosystem for five years now, I see so many positive changes happening compared to years before. Things are getting better. There are many start-ups and an increasing number of people who support start-ups. Huge numbers of youth might be leaving the country but there are entrepreneurs, people who have come back and started their own business or working in start-ups or helping them in some ways. People living outside Nepal are more interested to know what is happening in Nepal and are finding ways to support people who are working here.
The best business advice you got...
Business is like a marathon. You have to give constant energy to it to go on in constant speed. Vision of the company is like a marathon, it needs to be broader, and it needs continuous hard work to make it happen. In business you need to go for marathon as well as the sprint. Sprint means you’re covering a distance and you want to be faster than the others. When you go for competition, you need bursts of energy; you cannot give up.
I am working with this amazingly talented guy – Dibesh Karmacharya, who is my partner in Naagiko Honey, he shared this concept with me. Why best advice? Because I have seen him doing it and witnessed ‘giving your mind, heart and soul to the things that you are doing’.
Does gender have anything to do with doing business?
It, in fact, does matter in a few cases. But every aspect has positive and negative sides to it and it completely depends upon the situation. If you are aware of the situation, you just know how to deal with it.
The most important lesson as an entrepreneur
Building credibility and earning trust!
What is lacking in the entrepreneurial scene?
There are so many things that can be done to make things easier for small enterprises like us. Government can facilitate the environment, support creativity and new ideas by coming up with new policies that support innovation. Beside, the insufficiency of relevant and updated information regarding the procedure for incorporation, sources of financing, regulatory frameworks pose a significant hurdle.
Organisations working in this ecosystem like Antarprerana, Safal Seed, One To Watch, Nepal Entrepreneurs Hub have been helping start-ups grow in different stages and it is very encouraging. The facilitation should not be only for start-ups but also for the companies like these that support start-ups and help them grow.
In the next five years...
I see Naagiko Honey as a social enterprise bringing innovative solutions to rural communities and connecting it to national and international markets.
The most satisfying aspect of being an entrepreneur
You are building something from the scratch and there is nothing more satisfying than creating something on your own. I am living my dreams!
Your recipe of survival
Stay positive, stay grounded, do the hard work, care about your loved ones and keep yourself happy!
[/nextpage] [nextpage title="Akanchha Karki" ]Akanchha Karki
Age: 28
Company Name: Kausi Theatre (Katha Ghera)
Title: Founder
Year of Establishment: 2018
Initial Investment: 50+ Lakhs
About the company: Kausi Theatre is a 130 seater black box theatre for rentals, collaborations and artistic junctions. We thought of establishing the theatre so that it will be easier to locate us and for the need for a space to practice the art that we are passionate about. It offers space to genuine artists, makers or performers as an inclusive platform for socio-politically relevant work.
The most challenging aspect of doing business
Being an artist firstly is a challenge, and converting art into business is even a bigger challenge. Since I love the field and have passion for it, I thought why not go for it. We want to create a self sustainable business and currently are breaking even but not making profit. We want to be profitable but also recognised.
The difference between initial entrepreneurial days and now...
Initially I used to get nervous, but now am much calmer and balanced.
The best business advice you have got
Many people have suggested me to not mix personal life with professional life. But in theatre everything is personal and though such advice doesn’t work in my field, I have that advice in the back of my mind.
Does gender have anything to do with doing business?
Most business is owned by middle aged men, and yes there are a lot of speculations and disbelief when a female is running a business. Because of the society we live in, gender does play a role.
The most important lesson as an entrepreneur
To set boundaries as I am an emotional person and an emotional person running a business is a bad idea; it was the most challenging aspect for me. Now I am learning to set boundaries and control my emotions.
What is lacking in the entrepreneurial scene?
Entrepreneurs need to be passionate about what they are doing or working on. If a person is passionate, then everything will go well.
In the next five years...
We hope to be known for our artistic approach to spread social political messages and motivate the youths, along with being a self and financially sustainable company.
The most satisfying aspect of being an entrepreneur
That you have the ball in your court!
Your recipe of survival
Do not be affected with what people say.
[/nextpage] [nextpage title="Sajal Pradhan" ]Sajal Pradhan
Age: 28
Company Name: Best Paani
Title: Founder
Year of Establishment: 2015
Initial Investment: Around 5 Lakhs
About the company: Best Paani builds non-electric, non-chemical, affordable rain water harvesting systems with locally available materials in Nepali societies with water shortages. The social enterprise has created safe water access for 300,000 people across 20 earthquake districts and recharged 10 million+ liters of rainwater to the ground water aquifer in Nepal since the Nepal Earthquake 2015. For Best Paani’s work, Sajal Pradhan has received Nepal’s Women Leaders Award 2017, the Global 50 Most Impactful Leaders in Water & Water Management Award 2018, and the Hyatt WOW Women Achievers Award 2019.
The most challenging aspect of doing business
There are many challenges in the business ecosystem in Nepal: business setup, electricity purchase, permit arrangement, property registration, getting credit, protecting minority investors, trading across borders, and enforcing contractors. According to the World Bank, in terms of ease of doing business, we are ranked 110 out of 190 economies.
The difference between initial entrepreneurial days and now
In our initial entrepreneurial days, my business partner Gokul and I spent a significant portion of our time on multi-hour-long deep dives over system/operational planning, ideation and experimentation. The general goal then was to establish corporate synergy that values employees’ core competencies and incentives.
The best business advice you have got
“Clarity is key: set up your KPIs (Key Performance Indicators) and a routine pulse check of your key numbers is quintessentia.” - a paraphrased mash-up of advice from Ashutosh Tiwari of Safal Partners and Dibesh Karmacharya of Biovac.
Does gender have anything to do with doing business?
The gender-based narrative is so prominent in life in Nepal that it is difficult to separate the business part from it. Gender inequality harms or benefits only one gender would be not only an overly simplistic but also an inaccurate claim - inside and outside of the business sphere.
The most important lesson as an entrepreneur
That it is possible to maintain satisfaction and progress simultaneously - in your business and in your mind. That discipline, calmness and patience will get you through the difficult, the enjoyable and the mundane. That external and self-criticism do not need to be met with defence or suppression. After a certain number of failures, you build a capacity to know that even if things go terribly wrong, you will survive… or you don’t, and that’s fine too. I wouldn’t want anyone reading this to expect these exact outcomes because everybody has their own narrative and their own lessons.
What is lacking in entrepreneurial scene?
The entrepreneurial space in Nepal is doing better than ever before. That being said, there is a need for entrepreneurs to broaden their lenses and be more intentional about making their work beneficial to people, to society and to the planet.
In the next five years...
My team visions Best Paani would secure safe drinking water access for thousands of more Nepalis across the country and recharge at least 20 million litres of water to the ground water aquifer. These numbers will grow as we grow and we will continue to lobby to launch better water policies nation-wide, particularly for rain water systems, because we believe decentralised water systems are safer and more efficient in Nepal than the centralised but poorly maintained distribution.
The most satisfying aspect of being an entrepreneur
Realising that we are part of a solution and not part of the problem! Seeing that the lives of thousands are enhanced through our work in enabling safe water access. Knowing that our employees’ and their kids’ lives will be better as a direct result of our team’s work.
Your recipe of survival
Creating clarity. For every decision, I mentally get rid of all unnecessary information and then arrange the remaining information in a hierarchy of importance to the decision to be made. This mental decision map is the space of clarity between the information input and action output. It’s that space between stimulus and response, where we exercise control in choosing our response. Doing so minimises energy drainage, mental exhaustion and loss of confidence, and it keeps your stamina in balance.
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