BIO: Akshat Malik, a serial entrepreneur, a risk-taker during the week, and a happy dog dad on Sundays, has undoubtedly had his good and bad investments.
STORY: Akshat’s company partnered with a brand and focused on helping it grow. The brand grew 100x, which was good for the company. But, the brand started partnering with other people, which led to Akshat’s company losing its market share and revenue.
LEARNING: Don’t get too invested in just one partner or brand. Keep your debt down as low as possible.
“Never hesitate to speak about what’s on your mind.”
Akshat Malik
Guest profile
Akshat Malik, a serial entrepreneur, a risk-taker during the week, and a happy dog dad on Sundays, has certainly had his shares of good and bad investments! He started his entrepreneurial tryst early on in the times when e-commerce and e-services were just seeping in, trying to get a foot-holding in India.
Fast-forwarding to today, he has revolutionized and enhanced the health and wellness industry by reshaping the niche in the cosmeceutical, derma, and nutraceutical sectors. He is the founder and CEO of ClickOnCare Retail Private Ltd.
Worst investment ever
Akshat’s company engaged a particular brand to help build their entire segment and grow within the nutraceutical market. This partnership helped the company immensely as the brand grew 100x.
But then, the brand had its own intentions of partnering with other people in the segment. Akshat’s company had placed all its focus on this one brand, and due to the new partnerships, the company started losing its market share, and its revenues got hit.
Lessons learned
- Don’t get too invested in just one partner or brand.
- Know your limits and your boundaries.
Andrew’s takeaways
- Keep your debt down as low as possible.
- Don’t have all of your revenue concentrated in just one or a small number of clients. If something happens to them, you’re going to be in trouble.
- Don’t allow any of the resources you have to be used in a way that doesn’t generate revenue.
Actionable advice
Never hesitate to speak up.
No.1 goal for the next 12 months
Akshat’s goal for the next 12 months is to add a line of products that will help add brand value to the organization.
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