MyNyFy — The brainchild of O2O (Online-to-Offline) Startup success story!
Are you that someone looking to venture your own business or build products? Hoping for some insights as to how to turn challenging business opportunities to your advantage? Aiming at solving the real-world problems for society?
If you nod “YES”. Keep reading buddy.
“People can click a picture of the item or product they need and create an order using the application. They also need to select their neighborhood where they can go and purchase the product,” explains MyNyFy Co-Founder, Vikram Yedavelli
Hyderabad-based Web & Mobile Social Commerce business, Mynyfy ( https://mynyfy.com/) hogged media attention when founded in 2019 during the pandemic. Co-Founder Vikram told us how he did it. “Optimizing the process of shopping by connecting 500+ registered offline local sellers & online buyers to do the business of trade around Andhra Pradesh and Telangana.”
Now that sounds simple, but why did it gain popularity? It is because citizens limit their exposure to the virus by the process of buying items quickly and easily. The app eliminates the need for people to wander around, breaking social-distancing norms, to buy things from multiple stores because they could not find it all in one place, he said.
Underlying reason to come up with MyNyFy and Hatch & Mark ideas?
The 2 secret strategies are Social Commerce and Online-to-Offline.
Social Commerce is part of E-Commerce, it focuses on selling a product or service using social media. It is a relatively new concept and has gained popularity in recent years.
Next O2O — Online to offline is a business model/strategy that focuses on deviating the customers from online space to buy in physical stores. This is achieved by using emails, social media, and other forms of electronic communication.
Working model of current MyNyFy app for an end-user?
Step 1: A buyer uploads the image of the required product on the app.
Step 2: The required product is then circulated to all the shop owners through the app.
Step 3: Shop owners who have products directly contact the buyer.
Step 4: The buyer goes to the store physically.
Step 5: Deal is made between buyer and shop owner.
No qualms whether the business was impacted. We are sure you understood why this business solution started in the first place. 😊 Now is the time my dear reader to turn your ideas into a great business.
Here’s some tips for us to be future-ready:
· Build a great team of investors to raise a startup’s seed funding. (Eg. Joining MyNyFy etc).
· step up the marketing campaign and fall no prey for mental/emotional challenges.
· Act wise, decide fast and utilize unforeseen situations to your advantage.
Undoubtedly, we know that the startup industry is very challenging but equally fruitful if played well.
If you would love to hear wise pearls of wisdom from his podcast, tune in to TGV audios.
Here is a surprise from The Guiding Voice(Naveen & Sudhakar).
That’s all for today, tune in to the full episode for more interesting insights!
Now that we’ve shared Vikram’s inspiring story, would like to know inspiring startup stories from you and your circle. They may get interviewed on TGV and we will also publish their sotry :)
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Originally published at https://www.linkedin.com.