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Entrepreneurship

How to run a shoe startup? A must-read interview with an entrepreneur

Cover image for the post how to run a show startup. Mr Ganesh Balakrishnan with flatheads shoes

Footwear manufacturing is a massive sector, with India being the second largest country to produce and buy footwears. It’s a sector full of opportunities, and building a shoe startup is what many people desire to do.

Thus, we asked Ganesh Balakrishnan, Co-founder of Flatheads (a casual sneaker brand) to share learning he got while working in shoe business. Ganesh is a seasoned entrepreneur and an alumnus of  IIT-B and IIM-B with an intrapreneurial experience of 10+ years.

Here is the Q/A session with Ganesh Balakrishnan that every shoe startup enthusiast must read:


1. What should a budding entrepreneur do before entering into the shoe business?

Try them on for starters: Understand what appeals about shoes – Comfort, aesthetics, functionality. Then understand if others (potential customers) also have the same need.

Behind The Scenes: Conduct research on what goes on behind the scenes – how shoes manufactured, materials used, what can help shoes stand apart (quality).

– Evaluate Competitors: Understand the who’s who of the shoe world. Read about the Nikes, Pumas of the world and how they got there. As well as the smaller brands to understand their positioning.

– Set an agenda: Why is she/he entering the market? How are they entering it, and what is their personality? Why will people want to buy from them?

– Market Research: What is happening in the world of shoes? What is being talked about? What is the general trend and how do we capitalise on them/ set ourselves apart from this in a way that catches eyes.

– Bring their best foot forward (pun intended): After careful consideration: research, test runs, surveys; she/he can begin to step foot into the world of the shoe businesses. Constantly look to challenge the brand, adapt according to market changes, continue to improve their shoes and perfect it for the customer.


2. Which aspect of the business is equally as important as good quality footwear?

Communication: How we tell our story to the world. We may be the best in the business; but unless the world knows about it, we wouldn’t be making any noise. It’s important for our audience to know who we are and why they will love us; this makes it important to understand our audience and narrate our story to them such that they’d want to listen.


Read: D2C business know-how! An interview for every startup enthusiast.


3. What are some marketing tips related to shoe startups?

Conveying your USP is critical to any business marketing, and shoes are no exception. Always answer the question, “why should a customer buy these shoes?”

Identifying the target audience is essential before starting the marketing efforts, then you must find the right channel where the audience is present.

Lastly, customers buying shoes online are most concerned about sizing and fit. It is important to communicate the exchange and refund policy clearly; so that they trust the brand and make the purchase.


4. What is the number #1 mistake that a startup in the shoe business should avoid at all cost?

Ordering too much inventory without understanding what sells is the most critical mistake that shoe startups must avoid. It is better to spend a little more to make the shoes in a lower quantity and test it in the market, before ordering a larger inventory stock.


5. Do you think instead of being only money minded; passion is also important to become successful in business?

Yes, absolutely! Passion is the most important aspect of entrepreneurship, especially if you are planning to spend a decade of your life doing a startup. In particular, being passionate about shoes is a prerequisite for starting a shoe business:

– A love for shoes and subsequent knowledge in them will help you set sail to your shoe business.

– If you know your shoes, and are sold on them, selling them to your customer becomes all that much easier.

– Any complaints, queries etc. are answered better when you know your product in and out.


6. What are some rules and regulations a person must tick-mark to be legally sound?

– Appointing a legal advisor

– Chalking out a business plan

– Brand Protection

– Core legal documents


7. At last, please share any important tip, which can’t be covered in the above questions.

Perseverance is one key aspect of starting up. Brands take time to build, and customers take time to become familiar with your startup and start spending their money. If you are consistent with your messaging and have a clear USP to talk about, the business will grow. Give it time.


Note: Check out the amazing work of Flatheads and follow their activity on this LinkedIn Page

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