One of the main sectors, which isn't much talked about, but is secretly important is event management. Events bring us together, creates bonding and people who help us conduct event successfully are event managers. This is the story of the TossHead an event management company changing the way people see and experience their events.
TossHead - Founder
Shank K. Vasudev always believed in innovation creativity and simplicity since his childhood. He completed his 10th grade with great difficulty from a remote village, Cuddapah in Andhra Pradesh. Soon, Young age crisis caught him and he was so much confused about life. The dilemma wasn't of "what I need to study further but how I need to be different in life".
As the life moved on he decided to take mathematics, but the life continued to embarrass him as he thought he was doing the same routine as others are doing. So, instead of joining any engineering college, he wanted to learn finance and accounting which would also help in running a business. While making this decision, he realised that instead of spending 3 years in graduation he can join a correspondence course and at the same time to job to gain experience. From there on everything started falling in place and his journey towards aiming to entrepreneur started at the age of 17 Years.
At his first Job, he used to sell Philips Accessories and salary was mere INR 1000. Yet, he somehow survived there for 1 year and 2 months. For the next 2 years, he worked at BPL Mobile, selling SIM Cards. His largest instinct as employee was with Kothari Pioneer Mutual Fund, where he worked for 12+ Years.
TossHead - The Idea
The inspiration to start an event management company came to his mind on an official trip to HongKong in 2010. He had hired an Event Management company at Kothari for their customers but he wasn't happy with their services. This made customers baffled and also made the situation embarrassing. On returning from the trip, he assessed his personal situation and decided to quit his job to start an Event Management venture.
I did not think beyond. One night, I had made up my mind to offer the best to customers as an event management company and it all began 9 years ago. At the age of 33, I quit my job and went ahead to set up my own start-up and led for the birth of an event management company.
With higher disposable income and a growing economy offered him enough opportunities to push ahead the agenda of offering every type of events. From personal events to family events to corporate events and even fashion shows, Tosshead has done it all over these 9 years. Apart from managing corporate events for several years, an idea to offer Event Equipment for hire stuck in his mind. This led to launch a website - India's First platform to book event Packages or event Equipments.
I am confident that the simplicity of customized packages and a range of equipment would be a game changer. Since Event Management as a concept has hardly been perceived as an online product, my ambitious project Tosshead, would fill the void.
TOSSHEAD - Product/ Service
Indeed, the Event Management industry in India is evolving and technology is leading to disruption by utilising digital opportunities to reaching out for deeper customer penetration. The penetration would be a reality for those who display competitive advantage through implementing a digital interface, offer a range of possibilities and provide simplicity of choosing Events & Equipment on fingertips. Tosshead believes in innovation and implementing technology to give customers a transparent pricing and user friendly access. With just 3 clicks – you can book Event packages or Event Equipments online.
The Event Management industry
Event Management industry is expected to witness an exponential growth with over 25% y-o-y over the coming few years. As reported by EnY, EEMA (Event and Entertainment Management Association), events industry in India is expected to surpass INR 10,000 crore mark by 2020-21. The range of Events that people are looking for has increased from Birthdays and Marriages to Celebrations across various individual and Corporate Events. From being an unorganised industry to being an organised sector, the next phase key growth driver for Event management is going to be in the form of digital and reaching out to masses.
TOSSHEAD- What is the revenue Model and sources?
The Business Model runs with B2B & B2C model and for every booking on the platform, Tosshead takes a commission.
TOSSHEAD - Team
Currently, Tosshead has 9 members. Shank knew them personally for the past 5-6 years as they were from same industry. Also it was very easy to get them onboard as they liked the innovation in the event space which they believe is a big game changer.
TOSSHEAD - Challenges
Technology was on of the major challenge for the company. To offer the best user-friendly experience to the website visitors.
TOSSHEAD - Future Plan
In the next 1-2 years, Tosshead plans to be in all major cities of India and they want to keep adding a whole lot of things which revolves around Events.
TOSSHEAD - Entrepreneurial hacks
Our team is personally handpicked from known and reference sources so that they stick around for long run.
TOSSHEAD - Building work Culture
Keep the office culture simple. Also the innovation happening in the event industry is a great motivation for them to be part of a wonderful journey.
Founder's advice to budding entrepreneurs
Don't create a product, let the product innovation create you!