Divisa's Entrepreneur Sanjeev Juneja Conferred With Honorary DSc in Ayurveda Entrepreneurship
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DSc (Honoris Causa)
Sanjeev Juneja
Doctrin de Science Award Honoris Causa
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Exclusive Interview with Sanjeev Juneja
Question: 1
What inspired you to enter into Ayurveda Entrepreneurship and FMCG sector?
Answer:
Born as a son of an Ayurvedic practitioner, I was the first in my family to venture into the business sector. My father, Late Shri I.K. Juneja, was B.A.M.S Doctor and renowned for his unique Ayurvedic formulations to treat various ailments. Since my childhood, I was curious about ayurvedic herbs and oil. I used to work in my father's pharmacy, where he formulated various medicines to cure various ailments. I learned a lot from my father about the Ayurveda and focused on this subject as my future career perspective. Quality of Ayurveda that inspires me the most is that it is a safe and secure medicinal system without any vital side effects and pocket-friendly. Since then, I want to do something of my own to provide the benefits of this unique curative system to the common masses.
Question: 2
Since how long, you have been into Ayurveda Entrepreneurship and FMCG sector and in which cities you have been associated for administration, entrepreneurship, marketing, research, distribution and training programs?
Answer:
As I said earlier, I was brought up in a family of Ayurvedic practitioners, even my grandfather was also a renowned Hakeem in Pakistan before the partition of India.
In 1999, I lost my father at the age of 23. At this phase of life, when most young men scramble for career choices, I am battling with the loss of my father, which put complete responsibilities of my mother and sister on my shoulders. While combating the odds of my life, I started my own bootstrapped firm Sanjeev Pharmaceutical in 2001. My entrepreneurial journey started from one room with Rs 2,000 in my pocket. And today, I have a vast portfolio of brands, which estimates to have contributed a net worth of approximately Rs 10,000 Crore to the Indian Economy.
In media houses, my name is hyped as the “Brand Machine”. In 2015, I had cracked one of the biggest deals in the history of the Indian FMCG sector, when EMAMI acquired my six-year-old brand Kesh King. The USD 262 million deal valued Kesh King at more than five times its annual sale. This news got limelight in the national and international media, with headlines “In 6 Yrs, His Bottom Line Bulged Through Hair Line”.
In past years, I have crafted multiple homegrown Ayurvedic brands such as Kesh King, Dr. Ortho, Roop Mantra, Sachi Saheli, Petsaffa, Accumass, Mother Sparsh, Itchku, Badman, and Tulsi Mantra, among others.
Presently, my brands are part of most of the households in PAN India. My brand has generated an income source for lakhs of Indians, residing in both, urban and rural parts of the country. To fulfil the demand for products, I have employed persons and arranged distributors in every State, District, and City in India. I have created a network of around 3500 people who actively work to promote, sell, stock, and distribute the products throughout India. Currently, we are operating from Chandigarh and Ambala. Our warehouses are located in Kala Amb, Dist. Sirmour, Himachal Pradesh, India. We have integrated Call Centres through which we are directly connected with customers/consumers 24X7.
Apart from this, trainings in relation to product research, marketing, distribution are conducted throughout India at regular intervals to provide the employees and customer a technical and resourceful approach in regard to the product/brands.
Question: 3
What are your future plans for administration, entrepreneurship, research and training programs in Ayurveda Entrepreneurship and FMCG sector?
Answer:
In near future, I am eagerly looking to encourage entrepreneurship in India. I am very much fortunate about the young entrepreneurs and start-ups and always wish to share my wisdom, support, and strengths with these new start-ups. I delivered informative sessions as a keynote speaker at eminent institutions such as the Indian Institute of Management and the Indian School of Business, among others to share my journey and wisdom about market strategy.
I had invested 50 million Indian rupees as an angel investor in one of the emerging baby care brands “Mother Sparsh”. Along with this, I also provided strategic and business-related guidance to the company from the core of my heart.
I am committed to invest 10 million Indian rupees in the latest technologies, like “Vowelor.” “Vowelor” is a platform that is a growing community of 90000+ readers. With this platform, the book lovers & authors interact regularly on various platforms including Facebook Group, Page, Twitter, Instagram, and the Vowelor’s website itself.
Apart from this, I am a founder trustee of the IKJ Care Foundation, which contributed immensely to various social work activities, especially during the ongoing battle against the pandemic.
Question: 4
What is your suggestion to Entrepreneurs on- When it is perfect time to sell your business/ brand, instead of continue to own it?
Answer:
An entrepreneur should be very patient while taking this decision and should not sell his/her brand until he/she doesn’t get the actual valuation of the brand. For the entrepreneur, the brand is like a brainchild for which you have given a part of your life. From the research part to reaching the consumer's hand, you have done arduous efforts to build a brand.
For Kesh king, several giant MNCs coaxed me to sell the brand, but I waited for the right time to get the exact valuation which is more than five times its annual sale. In May 2015, I clinched the deal with Emami for 262 Million USD, which chronicled as the second-highest-paid brand after the Paras-Reckitt Benckiser deal in the history of FMCG companies in India.
Question: 5
What are your recommendations to improve the packaging of Ayurveda products? Why most of the Ayurveda products are not present in market in attractive modern packaging?
Answer:
Packaging is the first view impression of the product if it is not good, no one will get attracted to your product. I completely agree that most Ayurveda products are not in attractive packaging, the reason behind this is most firms are selling their products in the traditional packaging. But, change is the law of nature, now most ayurvedic firms are changing their product packaging to modern packaging style.
In my opinion, the product packaging should contain unique structure, color, typography, imagery, and design, which should directly attract the consumer and ought to be delicate in its appearance.
Question: 6
What are contributions and achievements of IKJ Care Foundation?
Answer:
The main objective of the NGO is to alleviate poverty and social exclusion by providing education and the welfare of those living below the poverty line. This foundation also works for providing quality education, maternal and child health care services, sustainable livelihood opportunities, treatment, and a better tomorrow for women and girls. The organization strongly advocates this within and outside. The organization believes in the principle of transparency and accountability for the better interest of the poor and marginalized communities.
During COVID-19 provided the daily dry ration to more the 250 families on the daily basis.
100 beds, mattresses, two bedsheets, glucose stand/trolley, and food for corona patients.
3 Ambulances for service of Mankind from which 2 are serving in Chandigarh and Ambala respectively and 1 in Moga with a tie-up with Sonu Sood’s Sood Charitable Foundation, Moga has amenities such as a trolley structure, foldable oxygen cylinder, siren attendant facility and light bar system.
To increase the immunity and mental well-being of children and adults, IKJ Care Foundation provided online yoga awareness & classes.
IKJ Care Foundation in Ambala started a campaign to provide oxygen cylinders to the needy and poor.
Organized “Women Achiever Awards – 2022” to encourage women to participate in various fields.
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Question: 7
What are common obstacles faced by Entrepreneurs and how should they tackle them to be successful? What are your recommendations to young generation of Entrepreneurs?
Answer:
Building a brand is not an easy job, but securing the brand is the most common obstacle faced by Entrepreneurs. To secure the brand, one should take the steps from its initial phase. One should take all the steps about securing the research, product designing, design copyright, Trademark registration, trade dress, trade secret, and other activities about securing the brand.
Apart from this, young entrepreneurs are facing obstacles about reduced start-up capital, lack of skills, age stereotypes, social rejection, and most importantly self-doubt. In my opinion, successful entrepreneurs and Government have to take initiative to promote entrepreneurship through financial funding and skill development programs.
I recommend to the young entrepreneurs that they must work out to figure out the gap in the market. You should track, what is the need of the people and what your product is going to fulfill this gap. I know, that when I came as a young entrepreneur, I have the idea that there is a gap in the market for hair products. At that time, every company in the market is selling its product for hair shining and silkiness, but no product is concerned about hair health. Moreover, all the hair products are specially meant for females. As per the knowledge provided by my father and my studies and research workers, I discovered the formulation of Kesh King, which works on hair health and strength. And after the development of the formulation, I worked on the selection of brand names that can be used by both males and females. So, I added the word “King” which depicts this product is for men also. When the product was launched in the market, it interacts with the customer so much, that we got verbal marketing. Most of our customers recommend our products to the mass. I thought nothing works as well as the verbal marketing did for your products.
I believe in my idea and my thought process, which helps me to reach the stage, where I am today. So, If you want to achieve, what you have dreamt, just believe in yourself.
Question: 8
How can Entrepreneurs promote their products at mass level? Which key issues should be kept in mind before publishing advertisement in print and electronic media to get best value for money?
Answer:
From my own experience, Print and electronic media is the best way to promote the product on the mass level. The product should be self-explanatory and the creative campaigns should directly interact with the mass and their needs. I recommend intruding on the testimonials of the actual customer experience in the campaigns, it helps to interconnect with the people. As I said earlier, the quality of your product speaks for itself. Your customer is also your promoter. If you deliver a good quality product to consumers which fulfills their needs, they will readily promote your product through word of the mouth marketing.
Apart from this, the Future of growth marketing relies on the digitalization of marketing concepts to a great extent. This is one of the easiest ways to increase our user base. Then comes promoting significant offers on products. By 2023, the number of active internet users would be over 670 million. So, social marketing also plays a huge role in product marketing.
Before publishing advertisements in print and electronic media, we should keep the following factors in the mind:
It should be self-explanatory about product value.
It should be resourceful and understandable to the consumer.
It should contain the true content of the product
Question: 9
What are your recommendations to improve Indian economy, employment and prosperity? Which are the key obstacles that smaller sized countries such as Taiwan, Japan, Germany etc are ahead than bigger sized populated country India in terms of economy, employment and prosperity? How these obstacles should be resolved?
Answer:
To improve the Indian economy, we shall invest more in the new start-ups and young entrepreneurs. India has all the abilities to lead the world through its youth power. To improve the Indian economy, young entrepreneurship will play a vital role. Our Government is doing its best to achieve this goal. Recently, the Vocal for Local campaign was inaugurated by Prime Minister Narender K. Modi, which was highly appreciated by the Global leaders.
It's my privilege that I also become a part of this campaign. I strongly believe that every Indian has the potential to grow and aim to do something for human welfare. I am also a true example of this, I started my journey with only 2000 Indian rupees in my pocket, and now contributing a net worth of 10,000 Crore to the Indian economy. If every citizen takes a responsibility to do something to empower their surrounding, I think, nothing can stop us from being a world leader in the field of entrepreneurship.
Question: 10
What are your views on bitter rivalry among political parties which is harming growth, economy, business, peace and prosperity of country?
Answer:
Well. We are one of the world’s largest democracies. But, on the fair side of politics both agreement and disagreement work well for the democracies and should be respected by either side. Apart from this, bitter rivalry must not have any space in the democracy. It should be strongly condemned in national Interest.
Question: 11
How should Entrepreneurs escape themselves from labour problem, false case of sexual harassment IPC 354 and false case under non bailable SC/ST Prevention of Atrocities Act, planted for destroy business, blackmailing or revenge? Can India ever become Manufacturing Hub in world in such scenario or will always lag behind countries like China?
Answer:
Well, laborers are always a part of your family and you spent most of time with them. You have to follow all the directives and compliances given by respective authority and government. The policies and laws made under the constitution of India are made by keeping in mind all these expects. We should abide the procedures and direction issued in this context. We should make the proper committees which contain both the external and internal members.
Question: 12
Which are your existing Brands, please introduce them with hyperlinks and which are going to be launched in coming years?
Answer:
At present, we have brands such as Kesh King, Dr Ortho, Roop Mantra, Sachi Saheli, Petsaffa, Accumass, Itchku, Badman, Mother Sparsh and Tulsi Mantra, among others.
New Products Launches – We have approx. 200 products in the pipeline which will be launched soon in market.
Question: 13
What are Marketing Strategies? How a new brand should be launched in market?
Answer:
Everything in entrepreneurship requires a clear aim and best strategies before execution. In marketing strategies, I have a proper team that works on broad perspectives of marketing. In marketing strategies, the first step is always to know your customer, such as Dr. Ortho is for people suffering from joint pain, Pet Saffa is for constipation, roop mantra for skin health, and Sachi Saheli for periods related problems. So, the first step is always to know your customer.
Answer:
Once you know your customer, you can create campaigns which will directly influence or interacts with your prospective customer through print media, electronic media, and social media.
Do a complete SWOT analysis of your strategies and then launch the product in the market.
Question: 14
How can dealers and Distributors can connect with your brands?
Answer:
At present, we have more than 3500 dealers and distributors in PAN India. You can connect with the customer through your campaigns, but connecting with a distributor is not an easy deal. Here, your product quality, product packaging & design, product schemes, price margins, product transportation, repeat orders from customers, and various other factors work to maintain the relationship with the dealer and distributor.
We have a team of people who are directly in connection with the telephonically and social groups on day to day basis. In that, we share new schemes, new launches, and other related material that will be beneficial for the distributors.
Question: 15
What is your key market strategy to connect consumers with your brands?
Answer:
I have a clear vision on that point. First, I follow no one size fits all approach, secondly, I give prompt responses to the queries, thirdly, I try to meet customers' expectations as far as possible, the fourth is I engage with customers through marketing automation tools, and last I always follow empathy map to understand and resolve their issues. No robotic attitude with humans is my high tool for customer satisfaction.
Question: 16
How do you discover unique names for your brands, please share your views with reference to your brands?
Answer:
In my opinion, the name of the brand should be self-explanatory and should tell the brand story on its own. As I shared earlier, during the time of discovering the name of Kesh King, I was thinking that all the prominent products in the hair care line are for females. I worked on this and added the word “King” in it which depict it is for male also and kesh means “Hair”. People love this name and product. After that, my brands “Roop Mantra” stands for “beauty mantra”; “Dr. Ortho” for Joint Pain, “Pet safe” stands for cleansing the digestive system, “Eye Mantra” for eyes, comes in the market and all of these brands are a renowned name in the Indian FMCG.
Question: 17
What are still unexplored and less unexplored products/ sectors in Ayurveda Entrepreneurship, which consumers need desperately?
Answer:
There are more than 200 products in pipeline, which are in the research phase and will be launched soon in the market. One of the most recently launched product is “Dantmani”.
Question: 18
How traditional medicine and Ayurveda products are safer than available non Ayurveda based options?
Answer:
This is a massive subject that cannot be explained in a single sitting. Briefly, Ayurvedic Medicines is a system of traditional medicine native to India. Treatment options are varied and can include yoga, acupuncture, herbal medicine, massage therapy, and dietary shifts. The best part is that in India it is more about positioning and linking the product to emotions or traditions, like “Dadi or Nani kay nuskhey”. Whereas in non-ayurvedic markets, the key is to demonstrate results.
All medicines must be taken under prescription and strictly as per the prescribed dosage, the same is the case with Ayurvedic medicines.
Having said that it is important to understand that the Ayurvedic pattern has evolved as a holistic system of understanding physiology enabling it to maintain and restore health with a few side effects, while other medicines whose analytic understanding of physiology leads mainly to suppression of symptoms, with many side effects, some of which can be fatal also.
Question: 19
How management institutes should train their management students for fund raising for business & running a successful Entrepreneurship?
Answer:
Although my company never felt the need for fund raising exercise, thanks to our dynamic approach towards marketing and quality, yet following ideas can be helpful for fund raising for a new entrepreneur. Our firm is completely debt free, which is also a landmark achievement in today's business scenario.
We must know the organization’s needs. The Next step is to research investors that are a match for your financial goals. A serious analysis will be required on R.O.I as every investor wants a handsome return of his investment. At third stage we need to reach out to the investors/mentors to develop their interest in our plan of business. And last is an intelligent follow up and persistence.
Question: 20
How Chief Ministers of States can promote and boost business & employment in their state by the help of Entrepreneurs?
Answer:
India is gradually on its mission to build a robust start-up ecosystem. To promote and support entrepreneurs, the government has created a ministry to help new businesses. Besides, the central has introduced many schemes to bolster and assist new start-ups financially.
“Take up one idea. Make that one idea your life, think of it, dream of it, live on that idea, let the brain, muscles, nerves, and every part of your body be full of that idea, and just leave every other idea alone. This is the way to success.”
- Mr. Narendra Modi, Prime Minister of India
In India, start-ups have yielded employment to around 6.5 lacs people. It is the prerogative of all states to invite young entrepreneurs and offer them a safe environment, ease of doing business, financial support, and viable infrastructure. I believe that this way Indian Startup can easily reach among the first ten ranks of the global start up ecosystem index. Our current rank is 20th.
Question: 21
What are your recommendations to improve logistic supply and distribution of industrial products supply in India for smooth business?
Answer:
To improve the logistic supply and distribution of industrial products, we need more investments and automation in the field of supply chain management systems, warehouse facilities, and cargo airports nearby the hubs of the metropolitan cities.
Question: 22
Would you start a campaign to request government to offer free of cost internet to all people of your country as fundamental right, because it plays a significant role in education, awareness, implementation of government policies and economic development of country?
Answer:
I agree that the internet is a very important tool to gain, educate and improve awareness on all levels. In India under Article 19(1) of our constitution, “all citizens shall have the right to freedom of speech and expression”. Our Supreme Court has declared access to the internet a fundamental right.
But responsibility and duty to use every right judiciously and wisely comes along. My take is that, firstly it should be affordable, and we must use freely availble benefits judiciously.
Question: 23
What are your recommendations to authors, who are writing Books on Entrepreneurship for more creativity and understanding of the subject?
Answer:
I am very fond of studying literature and books. The books are the virtual insight into someone’s experience of their respective fields. I appreciate, if the authors provide more insight into the successful entrepreneur’s life and journey that motivates young entrepreneurs. Moreover, let us increase the podcast of these types of books, that would help a lot.
Question: 24
What according to you are the Top 5 major challenges (problems) which need to be resolved urgently by Government of India for businessman?
Answer:
Skill development of young youth, financial solutions, Affordable Healthcare system, Women's safety at workplaces, and labor welfare schemes issues need to be resolved on priority.
Question: 25
Why FMCG sector in India is dominated by foreign companies? Where Indian companies need to introspect to improve this scenario?
Answer:
One big factor, that I think contributes to the low or mediocre performance of Indian Companies is “Procedure Casualness”. People are not ready to transform from within. The system, processes, and methods working are where we need to work exhaustively. We have got manpower, talent, and experience, there is no reason why should we not reach a good global position.
Question: 26
What are your recommendations to repeal / include / amend provisions of ‘Companies Act 2013’, Securities and Exchange Board of India (SEBI) and Foreign Exchange Management Act (FEMA) to improve Entrepreneurship in India? How can they be friendlier along with safety of economic health of country?
Answer:
I understand that a committee constituted by SEBI is looking to recommend that Indian Companies be authorized for listing their shares directly on stock exchanges outside India and foreign companies accessing Indian stock markets. This can be a great amendment that could lead to a quantum leap in Indian businesses.
Question: 27
Recently Banks have lost their Thousands of Crore Rupees, political corruption also plays role in such bank frauds. What are your recommendations to minimise Non Performing Asset (NPA) of Banks to prevent collapse of banking system? Should Bank refrain themselves from awarding big sized loans to corporate sector?
Answer:
Yes, to maintain health of National Economy, the NPAs must be controlled. You see there are bad lenders and borrowers everywhere. What we need is to resolve the NPA issues, wisely. We should refer such cases to Debt Recovery Tribunals instead of conventional courts to save time and costs. For small loans Lok Adalats can be more effective. Compromise settlements is another good way to handle the NPAs. This is a straightforward non-discretionary mechanism.
Question: 28
Which major challenges do you see to establish India as world leader in Entrepreneurship?
Answer:
Skill development and lack of professionals is always a major challenge for the entrepreneurship in India. But, this is being fulfilled by the Government through their schemes and programme. As a result of which, we can say that in coming years, India will become the world leader in entrepreneurship.
Question: 29
Any other thing, you would like to share with World?
Answer:
A balance in personal and professional life is a must for everyone. Kindness, emotions, and empathy are important quotients to create that balance.
Take calculated risks, we must have something to fall back upon in case of failure or a feasible defeat.
Health and Happiness should be the foremost goals of our life.
We all must pay the taxes honestly as our contribution toward National Growth. There is no use in doing charity by stealing on taxes.
Respect the value of time and our culture.
Sanjeev Juneja, DSc (Honoris Causa) Doctrin de Science Award Honoris Causa
Prof. Hari Parkash Former Chief Centre for Dental Education and Research & Former Chairman Hospital Management Board All India Institute of Medical Sciences, New Delhi, India Conferred with Award of Honorary DSc (Doctrin De Science Award Honoris Causa) for Outstanding Contributions in Dental Science (Prosthodontics cum Oral Implantology)
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