Starting your own business comes with various ups and downs, and the journey to success requires ambition, hard work, and innovation. Such a story is that of MyAlice’s founder and CEO Shuvo Rahman, winner of the Forbes 30 under 30 Asia 2022 . Shuvo, a Computer Science graduate from Bangladesh University of Engineering and Technology (BUET), got the idea of starting his business to make the workflow of online business owners like his wife’s, more convenient. His educational background along with a drive to find a way to better the workflow of online businesses birthed his startup MyAlice. It started off with an intention of helping online businesses and has now expanded to a successful online business itself with thousands of users.
In 2019, while working on his wife, Anika Naowar Chowdhury’s eCommerce store, Shuvo noticed that she was struggling to juggle multiple social media platforms. In recent years, we see the same difficulties faced by many eCommerce stores. With people using social media to buy goods, online stores require a more efficient and effective way to manage products and customers. Shuvo thought about how he could help such online businesses. He contemplated the root cause of the problem and talked with specialists to come up with a solution. In his words, “We wanted to come up with a solution to solve all e-commerce store owners’ problems at once, so we launched MyAlice.”
What MyAlice Does
MyAlice is a software as a service (SaaS), a way to manage software online through a subscription. It helps eCommerce stores connect with their clientele across multiple social media platforms, manage customer data, advertise products, and help generate revenue. People from all around the world can access MyAlice to support their online business. MyAlice is also customizable according to business types and needs and caters to addressing two main components – customer care and social media marketing.
Customer Care
When it comes to customer service, many of us know how time-consuming it can be to get information about a product we might be interested in. This negative customer service impacts how customers perceive the business and eventually, hampers sales. MyAlice helps businesses keep up the quality of their customer service. By connecting all social media platforms for the business, the store can manage customer conversations more efficiently and easily. This not only gives the customers a good experience but also makes the business more reliable for customers.
Social Media Marketing
Social media marketing (SMM) is a system to market products and services, engage with existing customers, and reach new ones by using social media platforms like Facebook, Twitter, Instagram etc. Nowadays, it ’s essential for online store owners to merge product marketing and customer management if they want to run their business . Big companies like Adidas, Nike, Chanel each have a large dedicated workforce that handles these components. However, small online companies or stores cannot afford to build individual teams and keep up with large customer tracking, managing, and advertising when they first start off. They struggle to keep track of their orders and customer data. Consequently, A big percentage of such stores close down. MyAlice helps small online businesses reach potential customers with advanced social media marketing and gradually increase sales.
Helping businesses stand out
The market is now saturated with online businesses. For any business to succeed, they need to stand out, be it in its customer service, marketing, or with their products.
MyAlice helps store owners to better their product management and customer service by keeping track of conversations with customers and synchronizing all social media platforms. With improved database management systems, managing customer requirements becomes easier for online businesses. Additionally, quick responses from the stores contribute to customer experiences making the entire online shopping experience more convenient for both customers and employees.
With the increase in customer satisfaction, online businesses are able to stand out with their smooth service. Shuvo says, “After using MyAlice our clients saw an increase in sales while customer care costs were cut.”
For example, a Pakistani firm named ‘Swag Kicks’ increased their revenue by $42,000 in only 4 months after utilizing MyAlice. Another Singaporean firm ‘Ichiban Kuji’ raised their online sales by 50%.
MyAlice’s Achievements on the Global Stage
Shuvo argues that for any service there is both demand and competition. He says, “I won’t say that we are unique, but we try to offer higher quality at more affordable prices. This could be the main factor why customers opt for MyAlice”.
With such innovation stemming from his own home, making it to the Forbes 30 under 30 Asia list was an achievement for Shuvo and his business. He was able to gain more visibility and recognition. Additionally, it opened up multiple doors for networking, partnerships, and ways to expand his business.
Addressing Early Startup Struggles
Shuvo’s entrepreneurial journey was not successful overnight. With his experience, he believes that there are two major challenges that await any entrepreneur. Firstly, accessing funds, and secondly, accessing the relevant information. He further argues, “There aren’t many resources available in Bangladesh’s entrepreneurial environment that are need to build a product. However, there are ways to overcome this issue by taking advantage of modern resources like online courses and social media connections.” Shuvo goes on to say even if one lacks the ideal role model and knowledge at the first glance, there are resources available online to find them.
Shuvo’s advice for aspiring entrepreneurs
Shuvo’s primary advice is to be persistent and strive towards a goal and that entrepreneurs should not expect immediate results. No one wants to embark on a journey without the guarantee of success. However, with entrepreneurship, success is a gamble. Therefore, it is crucial to cover all grounds. For instance, Shuvo emphasizes having solid ideas, a decent team, and good execution skills. He talks about how it is natural for an enterprise to have problems in its inception and along the way. What is important is that entrepreneurs have an idea of what potential problems could arise and prepare solutions beforehand. Of course, impromptu decisions and good judgment will always come into play.
Shuvo alludes to how teamwork is important to develop a product and then successfully launch the business to attract consumers. He goes on to say, “On the way, you will understand what needs to be done next.
Be sure to observe, it gives you a lot of insights that can’t be learned from any institution. To develop my leadership skills, I had to observe and interact with people.”
Lastly, making mistakes is nothing to be afraid of. Shuvo says, ”Make mistakes and learn from them. My learning has always been my priority. I made many mistakes and I always tried to learn from them.” Despite there being the chances of failure in startups, overcoming the failure is necessary for experience and self-growth.
Shuvo Rahman’s journey teaches us that ideas can stem from anywhere and with determination and a vision, these ideas can be impactful. His entrepreneurial journey stands as an inspirational example for many individuals looking to build something for themselves and contribute to society.