Nitin Bajaj

Hey, everyone. Welcome to the industry show. I’m your host, Nitin Bajaj. And joining me today is my really good friend, Arjun Panchal. Arjun, welcome on the show.

Arjun Panchal

Hi, Nitin. Thank you for inviting. Thank you for having me at, INDUStry show.

Nitin Bajaj

Pleasure is all mine. Let’s start with who is Arjun.

Arjun Panchal

Tough question. It looks simple, but tough question, actually. Arjun, is a passionate entrepreneur, Arjun coach, author, and I’ll take you to that quick journey that, where I belong to and, yes. So I I’m originally from MP India and, did my engineering. I am engineer also. I try to remind myself every day. And, I did MBA from US from the University of Massachusetts, Boston. Then post that, I moved to California, worked with Desiree, as WFM lead, and then quit my job, came back to India in 2015, and, started my brand with my partner, Vikas Swaravi, started a brand called Papa Zapata. It was a chain of Mexican food outlets. Yeah. That has been the journey. And since then, I’ve been teaching entrepreneurship and mentoring startups. So, in a nutshell, I try to I like to try new things. I’m, I I like to try new things. So in a nutshell, I’m, I am wearing a lot of hats, and I like doing that.

Nitin Bajaj

You know, you are one of those adventurous people that I live vicariously through. You have gone out and started things from scratch, whether it’s coming from India to the US, establishing yourself here, finding a really good career, and then giving all of that up, going back to India, starting an entrepreneurial journey, and then teaching thousands of people how to become entrepreneurs on their own. You have written a book, which is a best selling one. You have these videos that you put out that have thousands upon thousands of views, and you have a fan following. I really appreciate how you go about doing these things. So kudos to you. And, as much as you said, it’s a difficult question to answer, I agree with that because Arjun has so many things all in one. So I’ve really appreciated moving you all these years. Tell us about, you know, you mentioned a lot of these different things, but if I were to, in a nutshell, get this question, what does Arjun do for a living? What’s the answer to that?

Arjun Panchal

So, it’s like before corona and after corona, I would say that. So before corona, we had the brand Papa Zapata, and I was completely involved in Papa Zapata. And, with that, I’ve been teaching entrepreneurship. I’ve been closely associated with SIBM Pune. Mhmm. And, I’ve been to many management institutes as a start up mentor. At SIBM, I’m a adjunct professor and startup mentor. And, before corona, there was papa, zuppata. Yes. We had 6 outlets in 3 years. So that was my, role before. But in corona, we shut down Papa Zapata. And, now I, drove in last 2 years in corona. After corona, I drove my entire focus in creating a course for entrepreneurs. And, I’ve been into mentoring more startups and creating my own courses. So because, teaching entrepreneurship, mentoring startups is one thing, but coming up with your own product, and that’s what I believe in. And that’s what I did, and in last 2 years, it was my kind of incubation period. And, by the way, Nitin and I want to share that today is a good day. I’ll always remember this interview because the program has have been working in last 2 years. Today, I’m going to launch at one of the biggest in queue patient center in India that is the Deshpande Foundation today only. Yeah.

Nitin Bajaj

That is amazing. Heartly congratulations. Yes.

Arjun Panchal

Thank you so much. Thank you. So today is we are going to launch that program at the Deshpande Foundation. So that’s what I’ve been doing, with the time I, understood in the importance of having a focus as well. And, many times, destiny also have has your, they it also has a plan for you. So that also you have to keep listening, and that’s what I learned in last 6, 7 years after coming back to India. So that has been in short before corona and after corona what I’m doing. Yes.

Nitin Bajaj

As I said, you you’re Panchal amazing person, and the journey you’re on is you’re trailblazing many Panchal, and kudos to you again on all the things you do. And really excited for you for this launch, and you couldn’t have found a better place to launch this, than the Deshpande Foundation. And, as you’ve gone through this journey and as you’ve mentored 100 of these startups, What’s when you look at yourself and think of yourself as an entrepreneur, what’s the biggest challenge you have faced?

Arjun Panchal

In mentoring startups? Or

Nitin Bajaj

In mentoring startups or in your even in your own journey. Right? When you think of when you wear the the hat of an entrepreneur as you coach these startups or as you work on your own course, as you go about being a business owner or an entrepreneur, what’s the one big challenge that you face?

Arjun Panchal

A good question, Nitin. And the big challenge what I’ve been facing with myself, and, I see that a lot of other entrepreneurs also face the same challenges, the clarity. Mhmm. And so the, even I lacked clarity many times in my start up.

Nitin Bajaj

Yes.

Arjun Panchal

And, I’m coming up the program. So, still, I’m trying to figure out who is the best target audience for me.

Nitin Bajaj

Mhmm.

Arjun Panchal

So these kind of clarity and for entrepreneurs, I have seen that they have energy. They have passion to become they want to do something new. Right? Everyone, like, at one point of time, they feel like I should do something of my own. Right? But, they lack clarity. And because of that only, Nitin, I’ve drove all my focus in creating this program, which help entrepreneurs to bring start up clarity, identify the right problem, bring clarity, create a lean Arjun model initially, and launch their program. So that has that has been the challenge for me, and I am following in my start up start up lifestyle hub, which I’m going to launch today. I have followed the same concepts. It’s a process driven thing, and, it’s not by luck. It’s not by chance that you become entrepreneur in one day just like that. There are people, of course, they’re born entrepreneurs since beginning. Right? They are like 5% of people, but rest of the people, 70% who are aspire to become entrepreneurs, if they follow the process, they can get that clarity on what they want to do. And, that’s what I have been doing in last 2 years. So this is the challenge. And how to overcome that challenge? Yeah. Get the course, I would say.

Nitin Bajaj

Follow the process and that’ll lead you to clarity, which will lead you to product market fit and everything else from there. I love that.

Arjun Panchal

Very true. Very true.

Nitin Bajaj

On the flip side of challenges come opportunities. What’s the most exciting opportunity for you?

Arjun Panchal

Yes. The biggest opportunity what I see here is that so in entrepreneurship, what, there are researchers, there are educationists. Yes. There are faculties, teachers. They are writing, you know, high level papers in their PhDs. Right? That is one. I respect them a lot because it takes a lot of patience to write papers and do PhD. And, by the way, kudos to you and proud of you that you have done your phd in entrepreneurship. So that is one. And

Nitin Bajaj

there’s always mistakes in life.

Arjun Panchal

Not really. And the second hat, what you are wearing is actually going out and doing startups.

Nitin Bajaj

Mhmm. So they

Arjun Panchal

are Arjun the second hand. That’s why I really appreciate that you have you have lived best of both worlds, you know, doing PhD and doing your startup as well. So the second part is, the real entrepreneurs who are on ground. Right? But in between, there is a lag. So the budding entrepreneurs, the aspiring entrepreneurs, they need the concepts, the clarity that how to create their start ups. So even if they go to entrepreneurs, there are so many entrepreneurs they mentor in a different way. They go to PhDs and scholars. They may have the different view. So there actually, I come in between and merging both of them, creating the right concepts, and giving them the practical exposure of entrepreneurship, how to do, what to do, and how to do. So in India, if you see and across, I mean, in other countries also, the biggest opportunity I see is that, there are so many courses on how to get funding

Nitin Bajaj

Mhmm.

Arjun Panchal

How to raise funds, how to plan, but nobody tells that. And hardly there are courses how to identify a problem, how to identify an idea, how to create your business models, how to pitch a b plan, right, which b b plan pitch. Right. These are the starting point. And why there are no, like or hardly there are less courses or there are less courses because it requires a lot of patience to mentor, to listen, and and that’s why I see the opportunity. It’s a big opportunity that and out of 100, like, 70% of the people, 60% of the people, they want to do something of their own, but there is a less direction. And that’s what I see the big opportunity in all the incubation centers in India. Mhmm. In all the colleges, the students who are doing MBAs or bachelors. In fact, in the corporates also. At one point of time, you want to do something of your Nitin. Maybe because of anything, because of not happy with the job or you have the aspiration to do something of your own. So there I see a big opportunity.

Nitin Bajaj

And, you know, one thing I’ve learned in life is you should always play to your strengths, play to that unfair advantage that you have. And your unfair advantage is you’re a really good listener and you have this amazing ability to talk to people and connect with them. I’ve seen you in action as a teacher, as a professor, as a mentor. You really have this ability to listen to what people are trying to do and and guide them in the right direction, which is extremely important in the space that you’re in because as you rightly said, it takes a lot of patience, but it also takes a lot of experience. And you have been there, done that in establishing a business in a very cutthroat market and growing it to multiple locations. So I’m really excited for you, but more excited for the people that will experience what you have to offer. So that’s that’s pretty amazing.

Arjun Panchal

Cool. Cool. What I’m learning is empathy is one thing I’m learning in entrepreneurship. Yeah. Empathy models and empathy that, and that’s what, it makes you understand people more. So true. Yes.

Nitin Bajaj

Arjun, when you look back at your journey so far, I’m curious to learn 2 things, 2 extremes. 1, that blew your mind and expectations and became a success beyond your imagination. And on the other end, something that failed and became a lesson for you.

Arjun Panchal

Right. So, to answer both. Mhmm. Yeah. So what worked for me is in in Papa Zapata, I mean, we expanded to 6 outlets in 3 years.

Nitin Bajaj

Mhmm.

Arjun Panchal

That really worked well. We entered IT companies. So first the first outlet the first two outlets were outside, IT companies in the mall. Mhmm. But what worked for us is going into IT companies, and that really worked well for us. That is one thing. Getting into entrepreneurship that also and I see that, you know, somehow naturally connects, so that also worked well. What became a lesson, Nitin, that, and I tell to all the entrepreneurs also and with confidence now what is lean Arjun Mhmm. Because I experienced that. So what became a lesson that whenever you start any business, and to all the audience who are listening to, whenever you start a business, do not invest heavily initially. Start small. Mhmm. But what happens when you are student, you have the big aspirations to create a $1,000,000 company. Right? Or when you are corp incorporate and quit your job and then start, you want to do big things.

Nitin Bajaj

Yes.

Arjun Panchal

Start so starting small is very difficult at that time. Mhmm. But do that. Do not invest more than 20% of the capital if you have. And so if you have a 100,000 10 lakh rupees, invest 20% in validating your idea, concept, doing market research, which a lot of entrepreneurs miss out. And we did as well. I mean, I would say that we invested 50% of our savings, my partner and I, in first two outlets in the mall directly, and we invested heavily. And for initially 5 to 6 months, we struggled to bring profits, being in an, restaurant industry. Mhmm. So that is the learning, I would say, that that do not invest a lot initially. Focus on validating your concept. And that’s what I talk about process. Right? And creating the system and processes initially and validating your concept through a lean startup model and design thinking. Yes. So I won’t go in theory, but this isn’t, like, in short, what the lessons and what worked for for us.

Nitin Bajaj

Sounds very simple, but, you know, you get caught up in the I think I’ve been there, done that where a little bit of my ego kinda comes into play where I say this has to be the best thing, and I have the money. I’m gonna invest it and make it look like something that I’m really proud of showing off. So you can get caught up in that pretty quickly. So very, very important and critical reminder that you wanna keep the money for other things that you may not know, problems that are gonna come to you. So it’s important to keep preserve that capital. Important lesson. Yeah. Arjun, I wanna use that as a segue to go to the next section of the show, which is my favorite, and we call this the one line life lessons. Would love to hear your life lessons.

Arjun Panchal

So many. I would say that this this interview will extend to 1 hour more if I

Nitin Bajaj

Please. But like

Arjun Panchal

Let’s go on. Life lessons, I would say that, the first thing what I believe in taking risk, go ahead and try things. Even if it doesn’t work, be perseverant and there will be a time. Second thing I learned is the time factor. It’ll keep working, and there is a time. There is some something beyond our understanding which is working for us. Mhmm. Right? So your plan may not work sometimes or many times, but be pursued and keep working. Be entrepreneurial what we always say that, right, be entrepreneurial, keep working, take risk, go ahead. Of course calculated risk. So that is the one nice and I practiced it and it’s much more fulfilling job, much more fulfilling life I’m living now. I I can say that when I’m in this role compared to what I was doing job and though I respect job as well what I did, but it’s more fulfilling now. Ikigai. It’s completed for me. The second learning is that be empathetic.

Nitin Bajaj

Mhmm.

Arjun Panchal

Life lessons is because when you empathize things work for you. So empathize that’s the second learning. 3rd learning from a business perspective, Nitin I won’t share that. Systems work people fail.

Nitin Bajaj

I love that.

Arjun Panchal

So whenever, I always I mean, whenever during mentoring sessions, we always focus on creating a system for a startup rather than relying on people. That’s it. Mhmm. Having a team is good. Of course, we need to have a great team Mhmm. Fundamentally, but we need to create, systems. And that’s what I am working in Arjun lifestyle hub, my new startup. Mhmm. Creating the systems and processes, and 70% of the systems are online now. Mhmm. So that’s what I’m trying to create, and that’s the one of the biggest learning. To give example, I’ve been invited as a guest sessions for guest sessions in various management institutes. And I realized in last 3 to 4 years that I’ve given so many sessions, but it’s a service industry in short. But where’s the product? It’s not scalable. If I keep going to the places, it’s always a happy feeling. It’s a gratification feeling of gratification going for a guest sessions. And that’s what I did. I created that convert that Those sessions you can see into a product. And now this product, the startup lifestyle hub, is a product that is scalable and faster creating a system. So systems work people people that’s what I learned from my mentor Siddharth Rajsekar. Yeah that’s the learning and last is I want to share that we keep I mean, in urge or, to earn money, in a rush to earn money, we forget to do charity. So we need to keep like if not 10%, 5% whatever we earn to give charity. Even I forget many times forget to do charity. So that I’m practicing now and and so that is also the learning that giving back to society. So these are the 2 three things I wanna share. These are the learnings, life lessons.

Nitin Bajaj

Love it, Arjun. And again, congratulations for the launch. And, I can’t think of any other person who’s better at this than you. You have the passion, you have the empathy, and you have the experience. And congratulations, and best of luck. I know you will achieve greater and greater heights, at this, and would love to bring you on in, I don’t know, a few months to talk about more of your successes and, continue to share your journey with our audience.

Arjun Panchal

Thank you. Thank you so much, Nathan, to having me here, to invite me here. It’s always true. I mean, you and I learn from you whenever we discuss. We talk. I get to learn a lot from you as well because you have seen best of both worlds and, and the way you I really appreciate the way you are interviewing so many personalities, that itself is an experience for you. So kudos to you, thank you again. And to audience I would say that to people who are in US have written a novel that you can go through. It’s a hilarious and emotional novel, so you would connect everyone there. What happens in America that’s available on Amazon, so you can you can check out that and go through that. You will enjoy the journey. It’s about the experiences and difference about differences about how the people, education systems in US and India. So that novel is for you guys, so you can check out that.

Nitin Bajaj

And I highly recommend it. Thanks, Arjun. Really appreciate you making the time to be with us today. And Yes. Once again, congratulations on the launch, and, best of luck for many, many, many more successes to come.

Arjun Panchal

Thank you. Thank you, Nitin. Thank you so much.