.
Discover

Faces of Entrepreneurship: Rakhee Mehta .

Our "Face of Entrepreneurship" for the week of December 18th is Rakhee Mehta, Founder of MagicRise.

Faces of Entrepreneurship: Rakhee Mehta

Null

“Entrepreneurship is a fine line between nurturing an idea, realizing it's true potential and then taking the risk with it. ”  -- Rakhee Mehta, Founder of MagicRise.empty


What does “entrepreneurship” mean to you?

Entrepreneurship to me is ever evolving.

Entrepreneurship is a fine line between nurturing an idea, realizing it's true potential and then taking the risk with it. Being passionate about your idea is great, but at the same time if it’s not working out, you have to give up the attachment to it and walk away. Most entrepreneurs fail for that reason. An idea has no value until it’s well implemented.

Entrepreneurship is one of the most exciting journey you can embark upon. I learned as an entrepreneur I analyze my own key results each day, and the product is the result of that work externally. I’m building an eco-system inside myself and building something tangible outside myself that also fuels an external eco-system.

How did your business come to be? (e.g. What sparked the idea? How did you decide to take the leap?)

My business idea evolved during my travels. After enjoying a corporate lifestyle for eight years, and starting some successful ventures in retail, I was looking for a change. I ran away to join a technology circus in LA as an intern. It changed my perspective on a lot of things.

As luck would have it I did attend some morning dance parties, which basically gave me the idea of starting it in India but also infusing the wellness concept in it. I loved the idea that so many people woke up in the morning and came together before work to dance with no alcohol just to start their day off with fun and community. And I knew in India people would need something that forces them to do the dance, so I added the wellness component with trainers and instructors that makes it easier to follow.

Today ten months down the line we are already present in 15 cities hosting about 100 parties and growing every day.

What is the biggest learning from the journey so far? What do you wish you knew when you started? Is there anything you would change/do over?

The biggest learning is that everything falls into place with time, but perseverance and focus is the most important part of building a dream.

Not knowing what this could lead to was the best part, it helps you explore the possibilities and so much more.

I wish I was more structured with executing & filing my legal paperwork from the start. But it’s learnt the lesson well. The journey so far has been very fulfilling I don't think I would change anything.

What advice/credo do you live by as you grow the business? What is your professional and personal mission statement?

Our platform is a movement which encourages talent, growth, art, artists, wellness. It has space for everyone to grow together. The idea is to create a community that shares intention of personal of growth & wellbeing at its core.

What’s it like to work alone/with your partners? What advice do you have for fellow entrepreneurs about building and leading teams?

The start is always alone but collecting like-minded people can be the most flourishing part of your business.

I would recommend people to look at the capabilities beyond professional certificates. The strongest member in my team today is a lady who held a masters degree but has zero work experience, prior to working with magicrise. She is a home-maker and has two children and got involved in her family life. But her thirst for doing something worthwhile never left her spirit. Today, she single handedly not only handles the creative part but also ropes in the trainers, entire back-end operations etc. As the brand grows, she will grow with it in big ways.

Teams are very important, because what people can do simply because they believe in your work and are loyal to the business is something money cannot create.

The most important part about building a start-up team is creating a lean structure with a reward & growth plan. Make your team members stake holders in your idea and it will go a long way. The more involved your employees are the love for the business will grow and you’ll have them with you for longer. But the work-life balance has to be maintained, it’s a marathon not a sprint. Burn out is a real thing and not good for people or the organization.

Where do you find inspiration when faced with challenges? Tell me about a time you overcame an obstacle.

I think I find deep inspiration with reflecting on my travels as a child with my father. It was one of the most nurturing experiences whilst growing up. We went to a lot of countries/ cities where we didn't know languages & of course Google didn't exist back then. I still to this day, I imagine, if he was in my shoes and faced with challenges, what would he do. (Most likely he would say keep it simple :))

I was living in a bag for the past four years; which was important for my personal journey, but also drained my savings. When I started magicrise was literally swimming against the tide (in terms of finances) at that point in time. For this venture, I set goals and deadlines for myself from the beginning and stuck to them, even when I was tempted by adjacent opportunities. I said to myself, I’ll invest this amount of time and money, and if it doesn’t pan out I’m walking away. I was willing to walk away much sooner because I was able to manage my emotions and keeping them separate to the business entity. I was building from a position of focus and strength and it helped me create magic.

What does “success” mean to you? What’s the dream for your business? What has helped/will help you achieve it?

Success is relative. Financial gain is only one element of it. Success is when everyone working with you is as excited about the next victory/step as you are excited about building it. As Richard Branson once said: “You can only join the dots when you look back and not really while moving forward.”

For me, the number of lives we touch as part of magicrise is ultimate success for me.

The dream for my business is to take wellness everywhere in the world and make it fun and a happy experience, like the parties we do currently.

We want to educate through experiences, create new awareness about themselves and learn tools to overcome stress and challenges in their daily life through Dynamic Dance Meditations, etc.

We want to exchange Indian Ayurvedic secrets of longevity & healthy living with the world.

We want to be THE platform for wellness.

What is your proudest and darkest moment so far? Share a key high and a key low from your journey.

There have been so many good moments with the fact that we have been growing exponentially has been a matter of great pride in itself.

We also held a workshop at the Nasdaq Entrepreneurial Center which is a source of great pride and a key high moment for us.

The darkest moment would probably be that I had ventured into previous start up, where I quickly realized that the co-founder and I had different ideologies. I risked a lot financially and emotionally with my time commitment. It was really hard to let go and move into something new. Everything happens for a good reason!


Nasdaq's Education Foundation helped launch The Nasdaq Entrepreneurial Center in the fall of 2015. Located in San Francisco, it has quickly become the go to destination for the next generation of risk takers and idea makers who take the plunge into entrepreneurship.

Scroll up