👉 Check out Odoo- https://www.odoo.com/r/k2NJ 🎧 Listen To #IndianBusinessPodcast On Spotify : https://open.spotify.com/episode/2XSemvuD0HhWuZRa49C64h?si=0x1RhreDTpSDwzdpyS-ACA ⭐️ Think School’s flagship Communication course with live doubt sessions : https://thethinkschool.com/sp/communication-masterclass/ VIDEO INTRODUCTION: In today's episode of the Indian Business Podcast, we are thrilled to welcome Viraj Bahl, the visionary founder behind Veeba Foods. From his early days as a failed restaurant owner to building a 1000 crore sauce empire, Viraj’s journey is nothing short of inspiring. He shares his remarkable transition from navy training to the sauce industry, the critical lessons learned from his initial business setbacks, and his strategies for achieving success with Veeba Foods. Tune in to discover the secrets behind effective sales, the challenges of outsourcing, and how to navigate the complex world of product pricing and market penetration. Viraj’s story offers valuable insights for aspiring entrepreneurs and business enthusiasts. Our Best Indian Business Case Studies: 1. Asian paints - https://youtu.be/jGT6ob8hV6M 2. Amul - https://youtu.be/nnwqtZiYMxQ 3. Haldiram - https://youtu.be/Z7P-t_yc8gE 4. Lijjat Papad - https://youtu.be/EdpoEmifW7M Timestamp: 00:00 - Introduction 5:10 - How did you switch from navy training to starting a sauce Company? 11:13 - What is a pocket full? 12:30 - Why did you fail in the restaurant business? 13:40 - Important Lessons to Start a Restaurant Business 16:08 - Why is sales more important than creating a system? 19:46 - Three lessons to learn from failed Restaurant 22:49 - What's the Difference Between Constructive and Destructive Frugality? 24:10 - How I Went on to Build Veeba 27:00 - What's the Difference Between Building a Product In-House vs Outsourcing It? 31:05 - What Can Go Wrong When a Sauce Company Outsources Its Manufacturing? 34:47 - How Much Does a Company Have to Go Through to Deliver a Quality Product to Consumers?" 47:29 - Lesson on Quality Policy 49:37 - With So Little Market Awareness, Why Did You Start a Chipotle Sauce Company, and How Did It Become Successful?" 51:38 - The Different Prices of Sauce 51:48 - What Is the Most Affordable Price Range for Sauces? Decode the Sauce Market Concerning Pricing Today. 1:01:22 - How Did You Get Domino's as a Client?" 1:06:50 - What Exactly Is General Trade and Modern Trade? 1:17:56 - What Lessons Can We Learn from D2C Failure? 1:19:59 - How Does Your Sauce Transition from Manufacturing to Reaching a Small Store in a Remote City? What Is That Journey Like? 1:25:35 - How Did You Convince Retailers and Penetrate the Market? 1:27:30 - What Advice Would You Give to D2C Founders Today? 1:31:29 - How Did You Approach and Convince Your First Retailer? 1:34:51 - How Did You Convince the First 10 Stores to Carry Your Product? 1:47:30 - How Do You Design for Diverse Taste Preferences? 1:52:33 - What Questions Do You Ask Consumers for Feedback? 1:54:42 - How Do You Identify What Consumers Need? 2:03:11 - What Is a Healthy Gross Margin? 2:03:54 - What Do You Think Is a Healthy Net Margin? 2:04:20 - What Is Hygiene Marketing? 2:04:36 - What Is Explosive Marketing? Think School is a Digital School that we all deserved, but never had ►►Check out Think School's Online courses: https://www.thethinkschool.com #thinkschool #businesscasestudy #geopolitics Credits: CNN-News 18, WION, NBC News, Money Control Pro, Business Standard, TV18, Business Today, ABC News, CNBC, ET Now, Bloomberg Originals, Financial Times, DW documentary, AL Jazeera English, BBC News, Firstpost.