In the fast-paced world of entrepreneurship, success stories often feature individuals venturing out on their own. But sometimes there are unique stories of collaboration that defy convention and celebrate the power of partnerships.
4 rules for combining love and business
- Clearly define the roles and responsibilities of each partner.
- Have fun and stay positive, especially when you face difficulties.
- As you start your business, focus on the common goal that unites you.
- Respect each otherDecision.
We are happy to stand as one such example.For Susan Jeffers and Puneet Arora, co-founders of XY Retail, our journey is one of balancing love, ambition and innovation.
I grew up in a lower-middle class family on the outskirts of Bombay, India. It was my desire to explore and do better for myself and my family that fueled my determination to carve out my own path in life and ultimately led me to Silicon Valley and New York City.
Puneet comes from a family with an engineering background, and while pursuing a degree in Mechanical Engineering from Indian Institute of Technology, Mumbai, Puneet discovered his interest in modern systems architecture. Eventually, our two paths converged, forming a powerful duo dedicated to redefining the retail industry.
We built XY Retail, an omnichannel platform powering luxury retail brands, from the ground up in the basement of our then Manhattan apartment. Since entering the market in 2022 and raising $4 million in funding, the company has onboarded multiple global brands and now serves over 500 stores in over 20 countries.
Running a business is hard enough, but doing it as a marriage adds an extra layer of complexity. But through trial, error, love, and disappointment, we've discovered the secrets to success that help couples build the company of their dreams.
Clearly define roles and responsibilities
Critical to our smooth partnership were clearly defined roles and responsibilities within the company, and because we had known each other for a long time we had a deep understanding of how our individual strengths complemented each other.
Driven by our passion for technology, retail and fashion, I took on the role of CEO and steered the overall direction and vision of the company, while Puneet, leveraging his technical skills and experience, took the helm as CTO and led the development of innovative systems for modern retail.
Clear responsibilities have helped us create a well-structured framework and effectively leverage our individual strengths and expertise. I like to focus on customer relationships and am passionate about product design and usability. Puneet is a backend and overall architecture guru and has always had a long-term product vision and roadmap. This mutual understanding has minimized confusion and conflicts and helped us take unified decisions that drive the company's goals.
Have fun and stay positive
Starting a company from the ground up is a demanding endeavor that can feel both stressful and overwhelming, but we believe that maintaining a positive attitude and having fun along the way is essential to enduring the challenges that come our way.
Amid the uncertainty brought about by a global pandemic, we didn't get discouraged, but instead embraced obstacles as opportunities to grow and learn. Instead of laying off people, our team took salary cuts and dedicated that time to making our e-commerce platform the best it can be. Life is inherently uncertain, and no matter how carefully you plan your business, there will always be aspects that you can't control. Embrace them and find fun in the process.
Our shared work ethic and desire to enjoy the process played a key role in navigating the complexities of starting a business. Embracing uncertainty and finding joy in the process helped us overcome obstacles with tenacity and determination.
Keep the big picture in mind
From the beginning, we were united by a common goal: to create a seamless shopping experience that bridges the gap between online and offline retail. This common goal has been a guiding light that has lit our path throughout the development of the company.
With a clear sense of purpose and big picture focus, we remained steadfast in our resolve to revolutionize the retail industry. Whenever challenges arose, including being in completely different time zones for months at a time over the better part of the past two years, we weathered them with our shared vision always in mind.
Respect each other's decisions
In any collaborative endeavor, differences of opinion are bound to arise, but what characterizes us is our unwavering respect for each other's decisions, even when differences of opinion arise.
Hiring is an example of a decision we made in consensus. If either of us didn't like the candidate, we respected each other's views and didn't hire him or her. We recognized that we brought different perspectives to the table, respected each other's opinions, and learned to make decisions collaboratively.
This respect and trust have fostered harmonious working relationships at XY Retail and laid the foundation for a strong and innovative corporate culture. Being open to constructive dialogue and learning from each other's perspectives has contributed greatly to our success.
We want to emphasize, above all else, the importance of love, respect and common goals in a relationship.
We hope our story will inspire aspiring entrepreneurs and remind them that when the right people come together with a common vision, anything is possible. Above all else, we want to emphasize the importance of love, respect and common goals in relationships. As XY Retail's journey continues, our enduring partnerships will forever remain central to our success.
