- Date : 25/12/2021
- Read: 3 mins
Take a leaf out of Falguni Nayar’s book: Learn important financial lessons from her rise to fame.
Nykaa’s founder Falguni Nayar has been in the news recently for all the right reasons. From becoming India’s first women billionaire to launching a successful IPO, she is going places. She has also found a place among the richest Indians. What started as a humble family-funded venture has turned into a $750-million business empire.
So what did she do right? As it turns out, everything! Here are some financial lessons that you can learn from Falguni Nayar, the latest star of the financial market.
1. Age is just a number
Most of us believe that the older you are, the more challenging it gets to start a business. Well, Falguni didn’t. She started Nykaa when she was nearly 50. Within a decade, she built up her start-up into a brand.
The lesson: Age is just a number. Overcome the age hurdle. Great minds do not care about their age. They can succeed if they have what it takes.
2. Believe in yourself and your idea
Falguni had faith in her business idea and initially funded the business entirely with her and her family’s funds. She believed in generating momentum for her company before she sought external financing. Once Nykaa was successful, she turned to investors to expand and Nykaa became a unicorn after five rounds of funding.
The lesson: Belief in yourself and your idea is important. If you believe that you can do it, you can achieve your goals just like Falguni did.
3. Prioritise your goals
Falguni knew what she needed to do to grow and scale her business. She prioritised her goals, which turned Nykaa into a profitable venture in the initial years itself.
The lesson: Know what is important and then dedicate your resources to meeting your priorities.
4. Adapt to the changing times
Nykaa was promoted as an e-commerce platform as Falguni knew that technology is the next big thing to hit the Indian market. So one has to adopt technology or get left behind.
The lesson: Embrace technology. It can simplify your life and help you achieve your tasks easily. With the entire world going digital, depending on conventional modes will not allow growth.
While commending Falguni on a job well done, you can also take inspiration from her success. Take a cue from the Falguni Nayar success story and implement them in yours as well. This will inject financial discipline into your finances. Be inspired and turn your inspiration into a winning formula to grow and prosper, just like Falguni!