Posts
Idea:
The idea was to come up with an online portal that allowed users to subscribe and order movies on the internet. This was an idea ahead of its time, but had the all-important consumer focus, from the very beginning. The service improved the customer connect and utility as the customer now could, in the leisurely comfort of his house, order movies—in a click of a mouse or by just calling. The brain-child of Edwards and Concessio, Clix-Flix, the first online movie rental service in India was born.
Business
Although Concessio and Edwards never tried to replicate an existing overseas model, the close study of how foreign DVD rental services such as Netflix.com and Blockbuster Inc worked gave the two entrepreneurs some ideas. The Bandra boys had put in all the money they had and raised money, with their homes as collateral. Moreover, they did not have the luxury of a moratorium, which would have given them a few months' respite before they were expected to start repaying the loan and interest. They neither had deep pockets to advertise, nor did they even have any idea about the size of the market.
So hardly 18 to 20 days after starting up, the pair opened their first store from their Borivili office. With hardly any funds to advertise, marketing was through word of mouth. Yet within a year, they had about 4,000 members, who were lured to Clixflix by its more than 2,500 film titles. That meant decent money. The founders used the money to repay the initial loan, re-investing the rest in the business.
Success
ClixFlix lends the personal connect to the customer by understanding the needs and expectations of the consumer and linking it with the supply he has. So when the demanding, temperamental and impatient customer calls in for a film, the person on the other side is able to recommend a romantic comedy that she hasn't seen, and more important, a film without animals.
Edwards and Concessio are proof of the fact that there isn't a direct co-relation between an MBA background and entrepreneurial success; both are B Com graduates. By bringing cinema quite literally to your doorstep, Edwards and Concessio have given back to the city as much as they have received.
Future
One of the recent options to have come up in Borivili is Reliance's BigFlix store. Having adopted much the same strategy as Clixflix, one would have assumed they are directly competing. But Edwards argues that two people being in the same market did not automatically make them competitors. They believe that the home entertainment rental segment is at a nascent stage, and collective effort from many players, is required to enhance consumer attention. So in essence the competition is good as they expand the market.
Edwards and Concessio are optimistic, sure that they have a winning idea. Edwards believes that after you are done with work, food and sleep, the next big thing on people's priority list is entertainment. "To go to a multiplex, a family would have to spend Rs 800, when they can get actually 20 movies with us at the same price in the comfort of their own home," he said. "And they can eat their own popcorn."
The idea was to come up with an online portal that allowed users to subscribe and order movies on the internet. This was an idea ahead of its time, but had the all-important consumer focus, from the very beginning. The service improved the customer connect and utility as the customer now could, in the leisurely comfort of his house, order movies—in a click of a mouse or by just calling. The brain-child of Edwards and Concessio, Clix-Flix, the first online movie rental service in India was born.
Business
Although Concessio and Edwards never tried to replicate an existing overseas model, the close study of how foreign DVD rental services such as Netflix.com and Blockbuster Inc worked gave the two entrepreneurs some ideas. The Bandra boys had put in all the money they had and raised money, with their homes as collateral. Moreover, they did not have the luxury of a moratorium, which would have given them a few months' respite before they were expected to start repaying the loan and interest. They neither had deep pockets to advertise, nor did they even have any idea about the size of the market.
So hardly 18 to 20 days after starting up, the pair opened their first store from their Borivili office. With hardly any funds to advertise, marketing was through word of mouth. Yet within a year, they had about 4,000 members, who were lured to Clixflix by its more than 2,500 film titles. That meant decent money. The founders used the money to repay the initial loan, re-investing the rest in the business.
Success
ClixFlix lends the personal connect to the customer by understanding the needs and expectations of the consumer and linking it with the supply he has. So when the demanding, temperamental and impatient customer calls in for a film, the person on the other side is able to recommend a romantic comedy that she hasn't seen, and more important, a film without animals.
Edwards and Concessio are proof of the fact that there isn't a direct co-relation between an MBA background and entrepreneurial success; both are B Com graduates. By bringing cinema quite literally to your doorstep, Edwards and Concessio have given back to the city as much as they have received.
Future
One of the recent options to have come up in Borivili is Reliance's BigFlix store. Having adopted much the same strategy as Clixflix, one would have assumed they are directly competing. But Edwards argues that two people being in the same market did not automatically make them competitors. They believe that the home entertainment rental segment is at a nascent stage, and collective effort from many players, is required to enhance consumer attention. So in essence the competition is good as they expand the market.
Edwards and Concessio are optimistic, sure that they have a winning idea. Edwards believes that after you are done with work, food and sleep, the next big thing on people's priority list is entertainment. "To go to a multiplex, a family would have to spend Rs 800, when they can get actually 20 movies with us at the same price in the comfort of their own home," he said. "And they can eat their own popcorn."
Why do u work so hard?