THE BUSINESS OF CARE
Entrepreneur magazine|December 2022
After losing her husband to the second wave of Covid-19, Noida-based Veena Oberoi now lives all by herself. She has one daughter who is married and a son who is well-settled abroad. Like Oberoi, there are over 15 million elderlies who live alone, constituting nearly 10% of the total elderly population in the country. This is because either they have no family or because their children are overseas.
PRIYA KAPOOR
THE BUSINESS OF CARE

To address this need of senior citizens of loneliness, Shantanu Naidu launched la startup named GoodFellows. The startup has seen investment by the likes of Ratan Tata and Niranjan Hiranandani. A subscription-based service, Goodfellows, offers a one-month free trial. "We feel our customers should convert to subscription only if they find value. Another important aspect is to involve existing family members (sons and daughters) in the process to keep everyone in the loop in terms of happenings. But it all boils down to the 7-level vetting process we have before selecting truly empathetic candidates before bringing them on for a probationary period and then finally inducting them. This keeps our recruitment conversion rate as low as 2-3%." But isn't gaining the trust of senior citizens a challenge? "It is. However, we have spent almost a year breaking into this demographic by earning their trust not just through what we offer, ut also how we offer it. For example, every single interaction we have from getting a call to closing a subscription is carried out in person, face to face, with the goodfellows themselves," says Shantanu Naidu, Founder, GoodFellows. Naidu tells us that the response has been overwhelming so far and has waitlists for cities it has entered in as well as cities we haven't expanded to.

 

EXISTING STARTUPS NOT ENOUGH

This story is from the December 2022 edition of Entrepreneur magazine.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the December 2022 edition of Entrepreneur magazine.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM ENTREPRENEUR MAGAZINEView All
How To Ask Family For Money
Entrepreneur magazine

How To Ask Family For Money

Your friends-and-family fundraising round doesn't have to be scary and awkward. Here's advice from one of the world's leading investors.

time-read
3 mins  |
November 2024
Data Breach Drama: When Trust Turns Costly In A Digital Age
Entrepreneur magazine

Data Breach Drama: When Trust Turns Costly In A Digital Age

Amid data breaches surges, Indian businesses are prone to financial and reputational fallout. Can cyber insurance emerge as a safeguard?

time-read
4 mins  |
November 2024
THE TERRAIN TAMER
Entrepreneur magazine

THE TERRAIN TAMER

Spearheading a California-based, Series D SaaS company is no easy feat. It requires a blend of ownership, innovation, and the ability to handle stress. But Anand Jain, co-founder and chief product officer of Clever Tap, finds his calm by escaping to rough terrain whenever he gets the chance-be it India or Colombia.

time-read
2 mins  |
November 2024
THE INTELLIGENT READS
Entrepreneur magazine

THE INTELLIGENT READS

Hardika Shah founded Kinara Capital in 2011 with the mission to address the acute credit gap in the micro-small-medium-enterprises (MSME) sector in India, by providing fast and flexible business capital to small business entrepreneurs. Despite operating in highly competitive and tough market of collateral free loans, Kinara Capital has been steadily growing in Hardika's leadership. In conversation with Entrepreneur, Hardika shares insights on her favourite books.

time-read
1 min  |
November 2024
THE CURSE OF GROWING TOO FAST
Entrepreneur magazine

THE CURSE OF GROWING TOO FAST

FAIRE is a platform for small businesses, but it grew big the wrong way-almost becoming a $12 billion wreck. Here's how it fixed the problem, and why you should think twice before skyrocketing.

time-read
10+ mins  |
November 2024
There's No Perfect Answer
Entrepreneur magazine

There's No Perfect Answer

I worked the same job for 19 years. I hated it, but it paid the bills. Then, in 2017, I entertained an exciting but terrifying question: Could I be an entrepreneur? I wasn't sure, so I needed something that felt like a guarantee. I searched for signs that would feel like a big, clear \"yes!\"

time-read
1 min  |
November 2024
Give Yourself the Gift of Time
Entrepreneur magazine

Give Yourself the Gift of Time

Happy holidays! Emmy Award-winning tech expert Mario Armstrong has five recs to get more hours in the day.

time-read
2 mins  |
November 2024
How to Become a Main Street Millionaire
Entrepreneur magazine

How to Become a Main Street Millionaire

It started when I bought one little laundromat. Now I have a whole portfolio of small local businesses that bring in tens of millions in revenue a year. Here's why following my playbook could be your ticket to financial freedom-and saving America's local small businesses.

time-read
5 mins  |
November 2024
Want to Better Serve Your Clients? Become Them.
Entrepreneur magazine

Want to Better Serve Your Clients? Become Them.

As a designer for brands, starting my own product company gave me a dose of humility-and it changed the way I relate to clients.

time-read
3 mins  |
November 2024
How to Succeed With Gen Z Workers
Entrepreneur magazine

How to Succeed With Gen Z Workers

People often say that younger employees are different. But are they? We asked six business leaders what they've learned, and how their teams thrive.

time-read
2 mins  |
November 2024