Leaders
The use of natural herbs in the healthcare industry has gained significant momentum in recent years due to the increasing awareness and demand for chemical-free and organic products. Devika Bajaj, the Founder & CEO of Daivik Moringa, has been playing a pivotal role in empowering this sector and improving the health of millions through her brand's wide range of organic Moringa-based healthcare and skincare products. Her dedication and hard work have helped the company grow its customer base in a short span of time. Devika has been recognized as one of the ’40 under 40’ business leaders by Business World and is committed to making Daivik Moringa a household brand globally. She has been an inspiration to many aspiring women business leaders and entrepreneurs in the healthcare industry. Check out the interview snippets to know more.
Can you describe your previous experience in the industry and highlight your expertise as a business leader?
I hold an MBA in Marketing and Finance from XLRI, Jamshedpur, and have a Computer Science Engineering background. Additionally, I completed the Executive FMB Program from IIM Ahmedabad. Prior to establishing my own venture, I worked in my family business, where I managed the international marketing division. As a business leader, I strongly believe in understanding and motivating our employees and colleagues through incentivization and encouragement to perform their best. Emotional intelligence is crucial for a business leader, and I strive to embody this quality.
Introduce us to Daivik Moringa. Tell us about the underlying idea behind the venture and its key areas of specialization.
Daivik Moringa is a health and wellness venture based on the concept of farm-to-table, organic produce fortified with Moringa, a plant with great medicinal uses. I discovered the power of Moringa while battling post-pregnancy weight loss and witnessing the improvement in my eye power, Vitamin D3, B12, and Calcium levels, weight loss, a boost in lactation, and hair fall control. The products have successfully helped manage various health issues such as diabetes, blood pressure, arthritis, post-COVID fatigue, immunity, hormonal imbalances, and topical issues. Daivik Moringa's mission is to inspire healthy living inside and out with chemical-free and non-synthetic products.
In your opinion what are some of the most challenging aspects of being an entrepreneur in today’s business climate? What steps do you undertake to overcome these roadblocks?
Entrepreneurship demands dedication, passion, and adaptability due to the dynamic nature of the business environment. Keeping up with technological advancements, government policies, customer preferences, and competition is crucial. Building a team of like-minded individuals who share the same vision is also challenging. Work-life balance is particularly important for women entrepreneurs. To overcome these challenges, we stay connected with similar-minded people, attend conferences and seminars, and participate in exhibitions to understand consumer preferences. We collaborate with others who share similar values, prioritize the well-being of our staff, and maintain a disciplined lifestyle with time for family.
What has been the growth journey of Daivika Moringa so far and what are the plans for the future?
Daivika Moringa's growth since its inception has been primarily driven by organic referrals and has garnered a customer base of over 5,000 in India and abroad. The company has expanded its reach through participation in various exhibitions, trade fairs, and organic platforms. It has also ventured into e-commerce, through its own website and other online marketplaces such as Amazon, Flipkart, Amala Earth, and more.The company has observed strong traction in the past three years, with its moringa-based healthcare and skincare products gaining recognition from doctors, fitness coaches, nutritionists, naturopaths, and government bodies. With a high customer retention ratio of around 45 percent, Daivika Moringa plans to expand its reach by starting digital performance marketing and targeting offline health and organic stores for conscious consumers. Additionally, the increased focus on health and immunity due to the pandemic has resulted in a 20 percent growth in demand for moringa products in recent years.
Can you share the three major achievements that you have accomplished in your career so far? Additionally, can you reveal your secret to success?
Firstly, I am proud to have established my own company that promotes genuine, non-synthetic ingredients to improve people's well-being. The positive feedback and appreciation from our customers are my biggest motivators.
Secondly, I was honored to be recognized by Business World as one of the top 40 under 40. This has given me a distinct identity and helped me gain more exposure in my field.
Finally, my company recently secured its first seed funding round through Startup India, which has been a major milestone for us.
As for my mantra for success, I believe in having a strong vision, passion, and commitment toward one's goals.
Based on your own experience, what advice or message would you like to give to women who aspire to become business leaders and entrepreneurs?
My advice would be to stay true to yourself and have faith in your aspirations. Additionally, try to identify a gap in the market that hasn't been addressed yet and leverage your product's or service's uniqueness to fill that void.
Devika Bajaj, Founder & CEO, Daivik Moringa
Through Daivik Moringa, Devika strives to offer a range of organic healthcare and skincare products made from the nutrient-rich Moringa plant. Her dedication and hard work have helped the company grow its customer base in a short span of time. Devika has also been recognized as one of the ’40 under 40’ business leaders by Business World and is committed to making Daivik Moringa a household brand globally.
