Shark Tank India Season 4 has been buzzing among fans ever since it started to air. Digitally streaming on the Sony Liv app, Shark Tank India Season 4 connects Indian entrepreneurs with investors who are called Sharks. Shark Tank 4 has a panel of investors namely- Vineeta Singh, Namita Thapar, Aman Gupta, Ritesh Aggarwal, Peyush Bansal, and this season’s newest member, Kunal Bahl. In its latest episode, an influencer-turned-entrepreneur named Vijay Nihalchandani brought his own business and sought investment from the sharks. During that, Vijay Nihalchandani who is famous by the name Idea Man was asked about his social media earnings per month.
Vijay Nihalchandani aka Idea Man on Shark Tank 4
Vijay Nihalchandani, Chirag Nihalchandani, Pooja Nagdewani, and Kapil Dave from Ujjain appeared on Shark Tank 4 as Co-Founders of MakeMyPayemts. Vijay Nihalchandani started his pitch for MakeMyPayments and said, "Sharks our business runs on three funda. First, if you are facing a problem, then don't sit idle but go to the root cause. We faced one problem in business which was credit (udhar). When we reached its root then we found that India's 80 percent of MSMEs are running on loans or credit i.e. (Udhari). This credit has no system and debt payers don't have any mood to return back the money. That's why many businesses shut down."
"Then our second funda comes in i.e. if we have identified the problem then let's solve it. That's why we made the MakeMyPayment application. MakeMyPayment is an automated payment reminder system. Then our third funda comes in that if we have dug the well then let's serve water to everyone. We want to help individuals and businesses with this app. After the soft launch of this app, we have recovered Rs 50 lakhs for 300 businesses. We are seeking Rs 30 lakh in exchange for 3 percent equity."
Nampita Thapar explained that there are two types of debtors. One debtor is someone who needs your services otherwise you will not give them services. Another debtor is stubborn. You can do whatever, you can give them threats, it does not matter to them. Do you think such debtors will give the money after they get an automated call from MakeMyPayment?
Vijay Nihalchandani said that the one who does not want to make the payment, even god cannot force them.
Anupam Mittal then asked why he was doing before MakeMyPayment.
Vijay Nihalchandani said, "I was studying BCA in Makhanlal Chaturvedi Rashtriya Patrakarita Vishwavidayala, Bhopal."
After Aman Gupta asked what else he did, Vijay Nihalchandani revealed, "I am a content creator. I make business and finance content. I have 1 million followers on Instagram."
Pueyush Bansal then asked how much he earns from influencing.
Vijay answered, "Approximately Rs 5 lakh per month."
Interestingly, when Gaurav Taneja aka Flying Beast appeared on the show for his supplement brand Beast Life, he refused to answer it.
In the end, Vijay could not secure any deals from the sharks.