1. Tell us about yourself
My name is Mukund Maheshwari. I am a 4th year Law Student at School of Law, University of Petroleum and Energy Studies, Dehradun. I started Law Laboratory in my 2nd year with a vision to be one of the leading online platforms for legal fraternity.
2. How did the idea for your business come about?
Being a law student and coming from a non lawyer background, I have always suffered to cope up with the syllabus and to prepare for my competitions. I faced many hurdles in law school. As a child I always wanted to do a business and was inspired from many successful conglomerates. Since, I am doing law and I have had tough times in passing all the challenges so far, so I wanted to start up my own business, named “Law laboratory” and my main aim is to help law students in whichever way I can, keeping one thing in mind that “Law laboratory” will provide the students with the bestest of services and to make sure that we can the law school journey as smooth as we can.
3. Can you tell us about your venture Law Laboratory?
Law Laboratory strives to provide students with hand-made class notes updated with recent cases for all the law subjects, we provide legal news everyday to the students associated with us, we guide students with their publications in various international and national journals. We also make professional CVs and Cover Letters for the students and guild them in getting an Internship with Law firms. We also provide guidance as to moot courts and memorial making. We organize online competitions for students so that they get to know the different aspects of law in their life and their concept is just not based on books but beyond that too. We at Law laboratory provide 24 hours of assistance to not only to the students but to everyone who wants help in the field of law.
4. What are the challenges you faced till date and presently facing?
We live in rapidly changing times, especially for businesses, Considering that, in a single generation, businesses have had to adapt to entirely new marketing channels (web and social media), decide how to invest in and utilize new technologies, and compete on a global stage and one of the side effect of the rapid change is that no one can be expert in everything they do. So the biggest problem I faced initially was financial management, as a student saving my own money and doing business with that saved money was really tough for me. Competencies and recruiting the right people for my team was the second challenge, Instant client service and knowing when to embrace change was theadd on to another challenges faced by me.
5. What was your key driving force to become an entrepreneur?
For me the key driving force to become an entrepreneur are effective communication skills, management skills, Opportunity, Resources, marketing skills and leadership skills to manage my business and my team.
6. How did you raise funding for your venture?
You will be surprised to know, that I started Law Laboratory with zero investment. From an Instagram page to a proprietorship firm in 2 years, can be a motivating factor for the new entrepreneurs. Make sure, your biggest investment is your time and your biggest gain is the trust of you clients in you.
7. How do you build a successful customer base?
I built a successful customer base through Social Media i.e; via facebook, Instagram and through WhatsApp Mainly. If you will be good at what you are doing, then it will get mouth spread.
8. How do you market your business, and which tactics have been most successful?
As such, I don’t use any specific marketing tactics, but being an entrepreneur you need to know all the do’s and the don’ts of the platform, you are dealing on. For example, my major social media platform is Instagram and my target market is the youth, so you have to study what is the best time to post on Instagram. It’s basically, after 8 P.M., if you are targeting the youth.
9. What kind of culture exists in your organization, and how did you establish it?
At Law Laboratory, we have very friendly culture and all the people who use to work with Law Laboratory, develop a sense of belongingness with the organization. We all work for ourselves, not following the bossy culture but we make sure to be effective and efficient at the same time.
10. How do you generate new ideas?
Basically, the problems which you are facing or the society is facing are the opportunities which you need to identify. Also, I love discussing new ideas with people, which sometimes results to be fruitful.
11. What are your ideals?
My ideals of a good businessman is to put optimum amount of hard-work in whatever I do in order to provide the best services, to be aware of the temperament, feelings, and limitations of my team members and to keep a friendly communication level with all my customers and to make sure that they are easily approachable to me.
12. How do you define success?
For me the definition of Success is to have a “Meaning” and “Purpose” in whatever I do and I see success as a manifestation of good luck that results from aspiration, inspiration and perspiration.
13. Do you believe there is some sort of pattern or formula to becoming a successful entrepreneur?
Yes, I firmly believe that there is some sort of pattern or formula to become a successful entrepreneur and that is one must challenge themselves no matter what they come across in their business, reduce their fear of failure, be passionate and committed towards their work and I firmly believe that one must not try to become a success, but rather try to become a man of values.
14. What is your favorite aspect of being an entrepreneur?
My favorite aspect of being an entrepreneur is that I work for people and I find my joy is solving their problems and putting smiles on their face, so that they are satisfied with the service provided to them, that is the favorite aspect of entrepreneurship for me and at times it comes with reward, sometimes with appreciation. That I would say is happiness for me.
15. What has been your most satisfying moment in business?
I have always been very committed towards my work, all business has their share of satisfied and dissatisfied customers and so do I. The most satisfying moment in business for me is that when my client’s compliments my work and the news of their success, that makes me feel the urge to work more for the benefit of them.
16. What entrepreneurial tricks have you discovered to keep you focused and productive in your day-to-day busy schedule?
My love, commitment and passion in the work I do and the love I receive from my clients are the only entrepreneurial tricks I would say has kept me focused and productive in my day-to-day busy schedule.
17. Who has been your greatest inspiration?
Every boy looks upto to their dad and so do I. My dad is a businessman and he is my greatest inspiration and everyday I wake up and I dream of becoming the best version of my dad and that motivates me to work harder each day.
18. Any message for future entrepreneur
The only message I would like to give to future entrepreneur is: “ your passion is for you and your purpose is for others in whatever you do.” which means that your passion make you happy and committed towards your work but when you use your passion to make a difference in someone else’s life that is called the service or purpose.
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