Dare to think out of the box – Chahat Aggarwal
“There are no obstacles just opportunities,” says Chahat Aggarwal in a recent dialogue with Storiyaan. She is the beacon of hope and inspiration for present-future woman entrepreneurs. Having been an innovator throughout her life, she has helped multiple companies re-establish themselves in the market and further flourish. She has recently been awarded the ‘Business Woman of the Year 2020’ and the ‘Most Promising Women Entrepreneur of the year 2020’.
Her contribution has made itself visible in the success of brands like OYO and has initiated a revolution of innovative women in the market. Being the Founder and CEO of Impact Study Biz which is a strategic consulting firm, Chahat plans to assist fresh entrepreneurs not just survive but thrive in the business.
Read below to know the story of how she has been in the zenith of this field.
Questions and answers
Can you walk us through the process of establishing Impact Study Biz at such a young age?
I’d say it’s the problem-solving skills in addition to the fair play attitude that got me to establish the Impact Study biz. Due to the time constraints on getting a product on the market, lack of direction and strategy many start-ups lose to the big fishes resulting in a monopolization effect and stunting the growth of many potent start-ups. This is one of the prime reasons which gave birth to this company.
What was the major challenge which you faced in the process of setting it up?
I was not financially sound initially. I also didn’t want to start my company with debt so I poured in all my life’s saving into it. I had to come up with innovative solutions for operations and was very conscious about who to hire. So utilizing that capital on the talent was a must, but finding that talent with the right set of attitudes and accountability was very hard.
Can you talk to us about getting your 10,000 Women Entrepreneur certifications from Goldman Sachs and what is the one thing which you learnt there that you will always carry with you?
It was very insightful and challenging coming out from this training. It was a great experience to understand all the things I needed to work on and where I was limiting myself. It has helped me in establishing my company as well as taught me how to utilize the same principles for my Clients’ companies. The one thing which I shall never forget is the factors which are to be considered while growing a company.
You were one of the main reasons for growing the OYO brand from $250 mil to $10 billion. How did you make it happen?
The unique identities of the products were a key element for them to be widely accepted. Visibility of the brand, impactful communication and being true to our brand values while tackling a dynamic market made the company grow. The best piece of the puzzle was expanding globally. This was my dearest project, I worked day and night to create global guidelines, implementation standards, and bring in the local elements for each part of the country.
Can you talk about some of the innovative start-ups whose true potential you have helped unlock?
My superstar will always be OYO, but among others, I would mention Citrusberry, it’s an AI company in Mumbai. It is a group of talented folks and which can change the marketing industry.
For one of my tech healthcare clients in the UK, I helped not just get a strong footing in the market but also created a robust internal business process to keep the operation cost low and consistently high returns even during COVID-19.
How does it feel to see your clients, companies soar to new heights with the help of Impact Study Biz?
Two words, utter joy. I feel honoured to have been a part of their vision and to be able to help them grow their businesses. I support ambitious clients, with audacious vision but logics set in grounded reality. This is what I call a winner’s attitude who knows the value of time and money, and when I work with them, I know they are destined to win. Hence, I find a little triumph and a sense of gratitude that they trusted me to bring their products and services to the world.
What went through your mind when you won the Business Woman of the year 2020 award?
It was a concoction of feelings. I was honoured and humbled at the same time. Now I had a lot of responsibility as a woman entrepreneur. It has given me a boost to perform things better. And I hope that these steps of bringing a positive change in the world result in great success and inspire other women entrepreneurs to take a leap of faith and just go ahead with their innovative ideas without the fear of failure!
What is your piece of advice for the entire young women entrepreneurs in India?
Take a stand for what you believe in and don’t be afraid to make mistakes. When you play safe you make no ripples, no impact, no failures, and no success. It’s okay to shake things up and take risks, to ask WHY things are the way they are, and have the strength and courage to change them. Remember that there are no OBSTACLES just OPPORTUNITIES. So, step out of your comfort zone courageously, unshackle yourself from the norms and all of us together can change the world, one change at a time!