The stock markets are full of chaos and hectic, it is difficult and very few people understand it. From being born in a small middle class family with rural background, from their Lalit migrated to his grandparents home to pursue his education. From his early days to schooling, he later ended up completing his academics at IIT Bombay. As he always wanted to start his own company, he tried multiple options using his skills. He started Eduflix, a video-streaming academic classes for students, but unfortunately, the timing was wrong, and many people do not have access to the internet and mobiles or laptops. After the experiments, he joined flipkart and started working. As it was one of the largest groups and his job was perfect. But his vision and ambition to start an independent company was always haunting him. Finally, he started searching for the same type of people who are passionate about entrepreneurship like him.
The journey of Groww.
As they begin their journey, it was chaotic, and they have no idea how to start it. They initially launched a website as they had no money for mobile application. If they had no users for 1 month, then they would end up closing the startup. The mindset was improper, were only expecting 100 users, but 600 users appeared on the website. Which gave them confidence to build better. It was simple and had basic features compared to others. Only mutual funds, along with detailed information about stocks and risks. It was enough for investing and analyzing.
* After seeing the growth, they got funding which made them strong enough to deal with people. They never took any commission from users initially. Slowly, as time moved, they gained almost 2 crore registered users, and within a few days 1.8 crore demat accounts were opened. Within 4 years, they have seen a 77% growth in Groww.
* Their secret to success was unique compared to others, while players like Zerodha, Upstock, and Angel One, used to charge, Groww never charged. Others focused on trading and stocks; Grow focused on mutual funds, which built trust. Most of the strength was word of mouth, and most of the users felt comfortable. Grow never charges huge and has restricted users for trading wrongly or when they crossed the limit, any user who crosses the limit will be given warning signs. Groww never thought of revenue, they wanted loyal customers for a long time. This built users loyalty and promotion naturally among customers.
* Customer obsession was their major goal of success. They always responded to customer queries quickly. The funding loss was controlled without commercialization like others. Made users comfortable by making their platform easy to use. Created educational content own YouTube channels, articles, around 60,000 pages of Groww application information about how to use them. They ensured SEO to make Groww platform to be visible on Google. The stock market with educational content was provided to users for accurate information. Today they have 1.2 crore users and 50 million registered users who have direct impact on stock market industry.
