“Today people do startups for glamour & 3 B’s: Banao, Becho, Bhaago,” says Shaily Mehrotra, new Shark Tank judge, on Startup Pedia podcast

Shaily Mehrotra has recently joined the panel at Shark Tank India as the new judge. She is the founder of Fixderma, a Rs 1,500 crore skincare and haircare brand that claims to be dermatologically-tested.

In a recent podcast with Startup Pedia, the entrepreneur talked about how new-age businesses operate and the mentality with which people enter the startup world.

“Today, the definition of ‘business’ has changed. People start businesses for glamour. They think they will feature in magazines, do some podcasts…They are doing business from some other angle I believe,”she told Jameel Akhtar, co-founder and host of Startup Pedia.

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BUSINESS: THEN VERSUS NOW

Comparing how businesses used to be established 15-20 years ago to how they are built today, Shaily noted that the approach has changed completely.

Earlier, there was a clear gap in the market and starting a business was like an option to earn, she said.

“When we started our business in India, we didn't start it with the thought of it getting acquired, us selling it, and becoming rich. We built it with the typical, fundamental way of building a business, growing it, and taking some money home,” she reflected.

The Fixderma founder and new Shark Tank India ‘shark’ added that today people are in a hurry.

“They believe in 3 B’s of business: Banao, Becho, Bhaago (build, sell, run),”she laughed.

When Jameel Akhtar, Startup Pedia podcast host, asked Shaily Mehrotra what businesses she thought operated in the ‘Banao, Becho, Bhaago’ template, she responded by saying that there are a lot of categories.

“Health category, protein bar, skincare, perfume, apparel - literally anything that can be made in private label. People think they will do something extra here, do some great performance marketing, some great marketing, and then make some money and exit,”the founder of Fixderma explained.

Shaily pressed: you can sell overnight, but you cannot build a brand overnight.

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THE BUILDING OF FIXDERMA

Shaily Mehrotra started Fixderma in 2010, with a clear mission to create skincare and haircare products that are doctor-approved and clinically tested.

In the Startup Pedia podcast, she mentioned how it took the team six months to convince the first doctor to partner with the brand.

Today, Fixderma is worth Rs 1,500 crore and is one of the leading manufacturers and suppliers of innovative, dermatologically-tested haircare and skincare products.

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