We had the chance to catch up with Siddharth Mishra, Founder and CEO of Joules Health (https://www.linkedin.com/in/siddharth-m-30a96915a/) recently. Always smiling, Siddharth’s passion to build brands and to grow his company is absolutely infectious. Sharing an excerpt from the interview with him.
What have you been busy with in the past few months?
Siddharth: As a company, we have been busy with launching our best-selling ENRGY and NOCD drinks on new channels and new platforms. In addition to selling this on our website, we are now selling on Amazon, Flipkart, Open Secret, Swiggy, Tata 1MG as well as many distributors and stockists. Monthly billing has been growing rapidly and I hope we can continue this even in the future.
You had the opportunity to engage with the community multiple times in the past. Has the community been useful?
Siddharth: First of all, I would like to thank Karan for building the Tyke platform. It is a boon for founders like me!
One very curious thing we observed is that every time we were live on Tyke, our sales really spiked during the period. Members from the community have been kind enough to refer friends and family and make the Joules brand a grand success! Many folks have reached out to me with recommendations or offers of help which I have graciously accepted and benefitted from.
Once we started scaling up rapidly, we were looking for access to short term financing to meet inventory requirements. Lo and behold, Karan called me up saying that Tyke is launching Invoice Discounting in beta. I haven’t looked back and after that.
In fact, I keep telling Karan to let me advertise on Tyke or to find another way to make the association continuous. Let’s see if he comes up something (laughs)……
So why did you decide to purchase some of the Stock Appreciation Rights you granted to the community?
Siddharth: Recently, not only did Joules become operationally profitably as a company, but also cash flow positive. As we did not have any major upcoming projects or marketing expenditures, we thought it might be a good idea to return some money.
I spoke to Karan and here we are after a couple of weeks. We have used some of our excess cash to return money to our subscribers. Much of where we are today is thanks to the efforts of our believers…
How did you feel after taking this decision?
Siddharth: Many folks have reached out to thank me and of course, ask when they will get more money back (laughs).
On a more serious note, I am glad I have been able to help out with the cause to some extent. Today I feel a lot more assured about my business and am able to take certain decisions because I know I have the backing of a large community. I am only giving back the help I have gotten…
That’s a great way to think about this. On a last note, any words for the founders out there who are trying to build something?
Siddharth: I would only say believe in yourself. You will get help whenever required and in whatever form required. You will find a lot of detractors and nay-sayers along the way but you will also find a lot of supporters. Spend your time wisely as it is the most important resource at your disposal.
Thanks for taking out time from your busy schedule for the interview. We wish you all the best and hope you will continue to be associated with our platform.
Siddharth: My pleasure and I look forward to it.