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The success story of yourlibaas.com

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Engineering graduates and siblings Khalid Raza Khan and Akram Tariq Khan set up YourLibaas, an online store for designer ethnic Pakistani suits when they were both in college with a small investment of Rs. 60,000.

Today, the duo is celebrating the success of their six-year venture, which has now grown into a Rs. 14 crore turnover company, based in a 2,000 sq ft office in Delhi, with 23 employees on its roster.

They started with listing the products on our Facebook page initially, and the website went live after two months.

Khalid, founder & CEO of YourLibaas, raised Rs. 60,000, dipping into his savings and borrowing from his family, to buy the first catalogue from a wholesaler.

He established yourlibaas.com from his Pune flat in 2014 when he was just 24 and in his final year of computer engineering at Pune Institute of Computer Technology (PICT).

Akram, his younger brother, was 19 years old at that time and had just joined his Engineering in Computers at Aligarh Muslim University.

The brothers were born and brought up in Riyadh in the Middle East. In 2001, their mother decided to return to India along with her five children – two daughters and three sons – as she wanted her daughters to pursue their higher education in India.

Their father, a chemical engineer, continues to work in fireproofing for a construction company in Riyadh.

Khalid came to know about the Pakistani suits during a visit to Lucknow, where a relative of his was selling Pakistani suit materials in her close circles.

“The clothes had become popular. And I learned that no one was selling them online then. That was the moment I decided that I wanted to do it,” shares Khalid.

On the very first day, Khalid got orders worth Rs. 30,000, and in two to three days, the first stock was sold out. Initially, they got the orders mainly from Delhi and Punjab areas.

Khalid enabled the payment gateway and tied up with Shiprocket, an e-commerce logistics firm, to deliver the orders. Since it took three or four days to reach the customer, he later opted for postal delivery.

In 2015, they rented an office-cum-warehouse space in Sector 50, Noida, at a monthly rental of Rs. 25,000.

There were several pain points in the early days which they overcame gradually.

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Leadership

4 Must Reads – Straight from Elon Musk’s recommendation list

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Elon Musk’s reading collection includes science fiction classics as well as complicated literature on cutting-edge technologies. His vision as the leader of some of the world’s most valuable companies makes it interesting to take a peek into the inner workings of his mind. Musk is also known for sharing his suggestions on social media. 

Let’s evaluate some fascinating reads from his recommendations.

Steve Jobs, by Walter Isaacson 

This book chronicles the ambitious and adventurous life of Apple’s brilliant entrepreneur and eccentric creator. Steve Jobs covers the man’s successful enterprises, beginning with his early experiences with spirituality and LSD and ending at the pinnacle as a worldwide technology superstar. This is a well-researched book that goes into the thinking of the man behind the world’s most valuable technological business.

Life 3.0, by Max Tegmark

The Brief Introduction to Artificial Intelligence, Elon Musk’s latest book, is one of the few that explores the idea of AI being used for good rather than harm in the world. Max Tegmark, an MIT scientist, addresses how to keep Artificial Intelligence helpful to humans while simultaneously ensuring that technological progress is consistent with humanity’s long-term goals.

The Big Picture, by Sean M. Carroll

The Big Picture is a bold examination of the world we live in and how we may make sense of the vast majority of it through scientific thought. It teaches readers how to think about the most difficult things, such as the origins of life, awareness, and the cosmos itself, using a deductive approach. Sean Carroll is a practicing theoretical physicist with some unique philosophical perspectives. Sean invented the phrase “poetic naturalism”, which is addressed in the book.

Superintelligence, by Nick Bostrom

Superintelligence is intended to be a serious, hard-headed examination of the impending arrival of computers that are far smarter than humans. Musk has often warned about the dangers of unfettered Artificial Intelligence, and this book examines the pitfalls of taking technology too far too soon. 

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Leadership

Freshwork’s inspiring success story makes employee crorepatis

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Freshworks IPO has made 500 employees crorepatis

Freshworks Inc., led by Girish Mathrubootham, became the first Indian Software-as-a-Service (SaaS) company to get on the NASDAQ, which helped the valuation of the company reach a sky-high value of $13 billion.

Through stock options, around 500 of Girish’s employees turned into ‘crorepatis’, out of which 70 are said to be under 30.

Born to a former bank officer in 1975, Girish co-founded Freshdesk (now Freshworks) with Shan Krishnasamy in 2010. Atwell College from Australia was the first of many clients on board. The company managed to get 22 clients worldwide in the initial days.

Entrepreneurship is never a smooth journey, with success never guaranteed. “Success and happiness are two different things – One should focus on staying happy irrespective of what is happening around you. We always hold the key to our happiness,” says Girish.

Girish also mentions how grateful he is to all his employees and that the 500 new ‘crorepatis’ deserved a reward for their contribution over the years. About 4300 of Freshwork Inc’s employees globally hold equity options in the company.

Girish strongly believes in mentorship. He also founded SaaSBooMi, a community of founders who share hard-learned experiences by making these learnings available to all. “Passion and purpose are more important than almost anything else,” said Girish talking about young entrepreneurs looking to leave their mark. In the long run, he hopes to build a SaaS company that is recognized globally.

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Leadership

Shaji Thomas: The Indian Superhero who is saving the Amazon Rainforest

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Global warming, forest depletion, and other hazardous effects on our environment have been increasing rapidly as days go by. There are still a few souls who do everything they can to make sure they somehow play a part in saving us from what is known as the end of our existence.

One such hero is Shaji Thomas. He has been in a fight for the last 26 years to protect and save the Amazon Rainforests of Brazil. Here is a look into his heroic struggle to ensure a better future for us all. 

Shaji Thomas: Guardian of the Amazon Rainforest

Shaji Thomas who hails from Kerala carried his bags and shifted to Brazil as a young student. This young smart superhero is now an environmental conservationist and a lawyer, but what is more fascinating about him is the fact that he stayed back after his education for one special cause.

Shaji Thomas decided to fight and protect the Amazon Forests of Brazil and the rights for the 60 plus communities that reside in the region. This passion began when he was in his mid-twenties and was a part of the Quilombola Community. 

The battle was not easy in the beginning. Thomas had to acquire Brazilian citizenship and become the only Indian-origin lawyer in the region. He stood up to the mafia and lived on a boat in the rivers of the Amazon for years. 

This superhero has been holding up a strong fight for years but there is still a lot of work to do. Climate change is something that has been on the rise leading to major destruction of the rainforests. Thomas claims that almost 20 sq. km burns every year due to forest fires.

Shaji Thomas is working hard every year and inspiring people all over the world to play their part to ensure that the Earth’s lungs are safeguarded, and we have a sustainable future.

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