Raunak Sharma is not a technocrat or management student with any high-profile degree where startups are being embedded in the curriculum. But he is a heterogeneous mix of talent, innovation and hard work. Raunak thought of taking an audacious move to do something different and innovative with a touch of technology and moreover, which should connect people and their needs. This innovative mobile application FYOOL will provide additional relief to the people in the form of additional purchases to save their hard-earned Money spent on petrol, diesel, CNG & booze that too in a scenario where the economy has severely slowed down.
My journey so far as an entrepreneur and the problems I tried to solve through FYOOL App
First, let me give you a background of my entrepreneurial journey. I started at a very young age. When I joined my family business, I was only 14 back then!
I believe it is your zeal and hard work that helps you achieve your milestones. I was able to add value and take my family’s hardware business to new heights. But somewhere I always wanted to do something more. Where I am more connected with the people and the market trend. And finally, I came up with an idea and decided to give it shape as I felt the time was right.
Basically, the core idea to develop this the app is to lower the burden of the unnecessary hike that customers are facing in the current economic scenario. Lockdown period and unexpected event occurrence such as the COVID-19 pandemic made me think in this direction and come up with this intelligent and smart solution.
Hence bridging the current gap, the Fyool App is created to help guard people from a hike in fuel prices. It gives access to people to save their hard-earned Money rather than spending on petrol, diesel, CNG that too in a scenario where the economy has severely slowed down.
The founding story of the FYOOL App and the challenges I faced
Although I hail from a non-IT background but looking at the customers need, I decided to fill in. It was during the lockdown period and unexpected event occurrence, basically the COVID-19 pandemic, which encouraged me to come up with this solution. While the jobs were drying, salaries were being cut, a lot of firing of employees and no salary hikes yet we were left to face the rising prices of fuel. It felt unfair, that too in a situation where we all were already in a tight spot!
So, once I knew the solution I was going to bring forth, I networked with a group of people, formed the core team, and we set off to build something new, something exciting and something that was much needed!
But being a Founder has its own challenges as the onus is on you. But that also feels hugely motivating. The fact that you are self-driven and confident about launching a product which has its own USP that is untapped!
Unique services that FYOOL App offer today
Fyool App targets each person who wants to save Money. The app is simple, user friendly and works everywhere, with its services the user can save up to 50% of the amount which they are currently spending on petrol, diesel, CNG and Alcohol (any kind of wine and beer) which leaves many with no savings. And this is our USP, and we are confident that the app will create its own niche in the market. With FYOOL Apps, smart solution users can use the Money for their family needs, outing with family, gifts for their kids etc.
The team that helped to build the organization that I have today
We are a very small team of 12 people based in Delhi. My core team is extremely proactive and a heterogeneous mix of talent. We support and complement each other well as we share the same underlying philosophy, that is, to connect with peoples need and market trend; and that’s where the efficacy seeps in. To us, growth means adding more value to the customers, as we are a very customer-centric app, and our vision is intact- to help users save Money.
The most unexpected lesson I learnt
We have recently launched and right now only product-focused. But our growth and success are both linked to happy customers as there is no satisfaction beyond that. The fact that you can connect with your customer and solve their problems, offer a smart solution and in sync with the market trend is what growth means to our company.
Milestones as an entrepreneur
As I hail from a business background and having the comfort of joining my family business, I thought of venturing into this startup. So, this has been the biggest milestone during these years of my journey as an entrepreneur. I strongly believe in connecting with peoples need and market trend; hence I went ahead. I invested my savings, connected and formed the right network and team to build my dreams.
My education and life as a student
Like I already mentioned to me more than education, it has been work experience as I set off to work very early in life by joining family’s hardware business. So, for me, it was learning while earning. Every decision I took, I was confident as I have always been dedicated to my work, I understand my customers need and believe in adding value. So, when you know you want to make it happen, you will make it happen. Even today, I come from a non-IT background, but I am very confident that FYOOL APP will create its own niche. You need to understand your customer and simply connect with them, success will follow.
Who influenced me professionally?
To be very honest, it has been my own experience as I had joined my family business at a very young age, I was only 14 back then! I believe it is your zeal and hard work that helps you achieve your milestones. I was able to add value and take my family’s hardware business to new heights. But somewhere I always wanted to do something more. Where I am more connected with the people and the market trend. And finally, I came up with an idea and decided to give it shape as I felt the time was right. So, to me, time and experience have been the biggest influence in my life!
My plans for the FYOOL App
Right now, the focus is on the product, its existing offerings and marketing it right.
In the next five years, we are hoping to add more services for our customers and further lower the costs on other products such as LPG cylinders and education which is a pinching factor and help increase more savings for our customers.