As someone with a business family background, he has been tilted to business activities since the early period of his life. But he does not seem to be complacent just handling the business legacy of his family.
‘While joining my family venture several years back, I had an unwavering passion to do something truly innovative,’ says Prabal Saakha, Director, Saakha Group.
Such a dream propelled him to commence Hamrobazar.com, the biggest Nepali online transaction platform, some eight years back.
At the time, the concept of e-commerce was gradually gaining currency in the country with an upsurge in the number of internet users. So, he decided to exploit such an opportunity to the hilt by coming with the online transaction site.
‘Initially, some people frowned upon the very idea as it sounded totally alien in the then business context. But I along with some of the cousins decided to make a foray into the site with a great determination and optimism. Ultimately, the positive outlook and hard-work displayed by this young entrepreneur paid off.
‘The site turned out to be a viable venture as it attracted a large number of people looking for digital transactions,’ he said. The site primarily features classified ads, displaying a wide array of products including automobiles, real estate, apparels, and even jobs, events and pets.
Since its inception, there has been an exponential growth in the number of people visiting the site with around a million visitors browsing it every month.‘There are some crucial factors behind the consistent upward spiral of hamrobazAr.com.
Firstly, the site does not charge any amount from visitors, which has made it accessible to the buyers or sellers of almost every socio-economic standing.The technological evolution of the site has also been pretty phenomenal.
‘Of course, (as a tech-oriented venture), we have been agile enough to align with the latest breakthroughs in the global ICT realm. For instance, we have already adopted mobile version apps and the site is also using android apps,’ elaborates SAAKHA.
Hmarobazar.com is also looking to opt for iOS, the advanced mobile operating system developed by Apple Inc. He states that the gradual technological enhancement is aimed at making the site more user-friendly and efficient.
Additionally, Saakha has a major upgrade plan up his sleeve. ‘The very plan is strategically orchestrated to both financially and technologically enhance the Hamarobazar.com in the upcoming days.”According to him, the ultimate vision of the Hamrobazar is to facilitate a paradigm shift in the country’s online shopping arena.
On the other side, this suave entrepreneur is also acting as director of Saakha Group, a leading business conglomerate in the country. He basically looks after the automobile section of the group by involving himself in devising business and marketing plans as well as monitoring their execution.
The automobile section is now dealing with Chinese four-wheeler brands and they are facing tough market competition from Indian ones. In this regard, he is pulling his socks up to bring SUVs (Sport Utility Vehicles) in the Nepali market in the near future.
“On the one hand, the proposed dealing with the SUVs will facilitate the group to counter the onslaught of completion triggered by Indian automobile brands. On the other, it could prove crucial in enhancing the overall competitiveness and efficiency of the group,” he elaborates.
Saakha subscribes to the idea that the business growth comes from well-orchestrated strategies and their effective execution. And, with this belief, he seems determined to continue to march ahead in the path towards excellence.
His professional mantra
- Have a big vision
A big vision will take you far. When things go wrong on the path to your success, and they will, keeping the big vision in mind will enable you to steer your way back to a successful course. Big vision is your foundation that helps you navigate and orient yourself through the path of tough challenges.
That being said, you need the flexibility to alter the course as necessary. Sometimes, large changes to the plan will be necessary.
2. Win the trust of customers
Several components are necessary to win customers, and everyone at the company needs to know their own role in retaining customers. Everyone on your team should understand how they fit into the brand and what they bring to the value chain that delivers a successful customer experience.
3. Be Creative
You should always look for ways to improve your business and gain traction in the marketplaces. Recognize that you don’t know everything and be open to new ideas and new approaches to your business.