Frapp-Student Discounts

              Entrepreneur of the Week

a) So who is Karan Karnik basically… tell us a little about yourself?

I’m the guy that can’t stand not knowing something. I feel the innate need to understand everything, hence I ‘google’ most part of the day. Trying to understand things I don’t.

I graduated from NMIMS University with my Bachelors in Business Administration, and learned nothing but ‘How to sell’. Which, in retrospect is enough. I’ve always leaned a little towards creative fields, whether it’s designing, writing or photography. And overtime realized that that’s what I want to do.
Hence at ‘frapp’ lead Design, Product Development and Digital Marketing.

Also, I have an unhealthy relationship with ice creams.

b)  What led you to going ahead with the idea of “Student Discounts” to turn into a profitable business entity?

My co-founders and I were broke through our college life. We’ve stood at bars for 4 hours sipping on one beer through the night. So when we discussed Student Discounts as a concept, we were already sold on the idea. We believed in it cause we needed it. Probably why we had the courage to leave comfortable jobs and start ‘frapp’. We started operations in January last year.

c) What was the most challenging task while setting up?

Discipline.

Our generation doesn’t respect experience enough. With the digital age, we’ve become used to understanding technology and take everything else for granted. We lack the experience and discipline to run an organization. So the most challenging task was to be disciplined and try to be the leadership our team respects and learns from. And being 22 doesn’t help. So we’ve made mistakes, but learned and it’s going great now.

d)  If given the chance to go back in time, is there anything that you would’ve done differently that would impact Frapp as it is today?

Every entrepreneur can give you a never-ending list of what he would change from the his past decisions, and how he could’ve bettered them. The real challenge is to accept that there is no “chance” to go back, but an opportunity to learn from those mistakes and move on.

But since you’d want this question to be answered, it’d be focusing more on getting the product right before you launch. There is no beta product. Everyone makes a judgment the first time they see something. You don’t have second chances. So get it right the first time.

e)  What future plans do you have for your business entity?

We’ve gotten great offers from great brands for the student community. The plan is to do the same for students across the nation.

f) What are the 3 top factors to which you would like to attribute the success of your startup?

We don’t believe we’re successful yet. Hopefully soon. But to achieve success there’s not 3 but just 1 factor. It’s the team. You can’t achieve greatness or success surrounded by mediocrity. Surround yourself by creative, honest and hard working people, and I guarantee you, you’ll have a great journey.

g). How inviting is India Inc. towards upcoming businesses like yourself?

We haven’t had any troublesome issues till today. The government is making it easier for SME’s and it’ll just get better. Though all that matters in the end is if your concept is solving a problem. If it is, you have demand. If you have demand, no one can get in your way.