E Scientia Laboratory Essentials: A frontrunner in the field of supply and trade of various pertinent laboratory equipment
Is it possible to make something if appropriate tools are not available? The answer is clearly no. Then why would the picture be different in case of the pursuit of scientific research? Every small tool is important in a research lab, in other words, essentials. Such is the nature of products and services provided by E Scientia Laboratory Essentials, a B2B e-commerce company founded in 2017 with headquarters and corporate office in Hyderabad. The firm is a premier Microbiology, Quality Control products, Services facilitator dealing in the trade of rendering laboratory essentials to pharmaceutical, biotechnology industries, Life Sciences, and research institutes. Since the inception, the firm scaled up by consistently evolving with remarkable growth, expansion, and revenues. The firm is a one-stop solution shop offering a whole bunch of Quality Control and Microbiology related products and services while collaborating with principals like Accura Bio Q, BioGuard, Cole Parmer, a bioMerieux company – Hyglos GmbH, Glasco, Microlit, Radiant, and others promoting premium quality products for microbiology clientele.
Our editorial team spoke to Omkaranath B, the Founder, Business Leader and a microbiologist from Andhra University. He took the entrepreneurship road synergizing the subject knowledge, multiple years of domain experience and expertise. Omkar is an experienced Sales professional with a demonstrated track of working in the Pharmaceutical, biotechnology industry representing principals such as bioMerieux and Lonza. His forte lies in Industrial Microbiology, Business Development, Consultative Selling, Relationship Building, Planning & Execution of Deliverable Strategy, Market Research, and Teamwork. Here are the edited excerpts.
What problem does your company solve and how are you different from others?
As a concept selling firm, we always laid focus on the customer requirements and pain point to serve them with appropriate product and services which would match them the best. Our uniqueness is to offer the right consultation and identify the exact customer needs and serve. The exceptional deliverability of our products and services are backed with expertise and our technical know-how enabling to meet our client's expectations. Being an end to end solution offering organization in our domain, the approach, service, and support is different from our peers.
Tell us about your first paying customer and revenue expectations over the next year
The initiation of our story is quite humble, and in the beginning, we took cautious and tiny steps. In the start, our turn over for the first FY 2016-17 was mere INR 0.28 crore. The very next Financial Year (2017-18) brought good news. We have grown to the turnover of INR 3.2 Cr registering more than tenfold growth. For current Financial Year, we are geared up to generate about INR 6.5 Cr with an aim to grow by 100% and us on track with our H1 results.
At the moment, what are your success parameters?
We measure success by taking the considerate feedback from our clients. Our satisfied clientele is our backing in our scale-up journey. Company's consistent and swift growth shows our momentum and potential. Recently we were honored with an award "20 Best Start-Ups in Life Sciences -2018" by a leading business magazine.
How do you learn in your life and what is your biggest dream?
Nothing is better than praxis for learning purposes. I learn from my mentors and industry leaders. My dreams are the driving force for my decisions. I want to write a book explaining in detail about concurrent sustainable business strategies in a simplistic manner.
Tell me about when you failed. How did you overcome?
My major failure was to become solopreneur, doing all jobs on my own draining all my energy. I was then advised by my mentor Mr. Suresh Kumar to have strong footing of systems, infrastructure, and processes in place before building the castle. Once the base became strong, it enabled seamless scale up.
Tell me something you are learning right now.
I hail from a biology background. Right now, I am tightening my grip over domains like accounts, finance, cash flow, branding, lean model, cost optimization, dynamic sustainable distribution business model, and scale-up strategy.
What gets you excited about the future?"
There is nothing called perfection. I always believe in a progressive approach and looking forward to a better tomorrow. In business scenario growth, new challenges, opportunities excite me to think of reaching new horizons.
What was your journey like to get where you are?
My hitherto journey has been exciting and challenging with ups and downs with time to time improvement and execution of better strategies and plans. I embraced all the challenges with a prepared mind making ways against all the odds and unpredictable roadblocks opening up new opportunities.
What was the most difficult lesson you have learned as an entrepreneur?
In these times of rapid change, hiring the right talent and directing them into right challenging responsibilities is the key lesson I have maneuvered. My key learning is: My team takes care of organizational goals as we are concerned to help them reach their professional and personal goals.
What advice can you give entrepreneurs who want to venture into the same domain in the future?
I welcome all dreamers and doers who can innovate the processes and redefine the business eco-system with uniqueness offering "the next is what" to the customers as per the expectations. Prepare to be unprepared, expect the whole new things than the planned.