From Ecommerce to Real Estate: The Inspiring Journey of Shakil Prasla
In the ever-evolving landscape of entrepreneurship, few stories resonate like that of Shakil Prasla. Once the proud owner of 12 vibrant ecommerce consumer brands, generating a staggering $50 million in annual revenue with a workforce of 50, Shakil’s journey is a compelling tale of resilience, adaptability, and seizing opportunity amidst chaos.
The Ecommerce Empire: A Promising Start
Shakil’s initial foray into ecommerce began when he acquired his first online business in 2013, long before the trend of ecommerce acquisition became widespread. By 2018, he had expanded his portfolio to 12 brands, showcasing his talent for growth and improvement. During our conversation, he shared insights into his previous ventures, emphasizing the repeat business potential of consumable products.
“I realized that consumables drive strong repeat business. Customers reorder when they run out, which significantly increases lifetime value,” Shakil reflects.
A Pivot to PPE: Navigating the Storm of COVID-19
However, the pandemic thrust Shakil into uncharted territory. As he transitioned from ecommerce to wholesale distribution of personal protective equipment through Gloves.com, he faced considerable challenges. Misjudging market demand initially led to significant losses—$6 million, to be precise. Yet, with his characteristic resilience, he rebounded and made another strategic pivot.
Rebuilding from Scratch: A New Approach to Business
After acquiring Gloves.com with a private equity group, Shakil faced the daunting task of revamping an established brand. “We acquired the company with just the inventory—no team, no tech—so we had to rebuild it from the ground up,” he explains.
Shakil leveraged the company’s strong brand recognition, focusing on reactivating long-lost customers while emphasizing improved service and product quality. By reconnecting with clients from 15 to 20 years ago, his strategy of transparent communication and trust-building paid off, enhancing customer loyalty and driving revenue.
A Shift to Real Estate: Beyond Ecommerce
Looking for more stability and long-term wealth generation, Shakil transitioned into real estate and convenience store gas stations around Austin, Texas. “The unpredictability of ecommerce was stressful. I wanted more stability and the opportunity to build wealth through equity,” he said.
Exciting Challenges in Real Estate
Shakil’s move into real estate has been marked by exciting negotiations and project planning. “It’s rewarding to see a project come to life from the ground up,” he says.
He works closely with a team of professionals, including architects, engineers, and contractors, ensuring every aspect of his projects is meticulously planned and executed. Unlike the fleeting nature of ecommerce, real estate promises consistent foot traffic and a reliable income stream.
Empowering Leaders: Nurturing Growth with Purpose
In addition to his business endeavors, Shakil believes in fostering strong leadership within his teams. He meets with CEOs for strategic discussions, allowing them to own their execution while providing guidance and setting measurable goals.
“I empower, not control. When they create the plan, they’re more committed to achieving it,” Shakil asserts, highlighting the importance of autonomy and alignment in achieving business success.
Reflections and Future Aspirations
After enduring stress, burnout, and reevaluating his priorities, Shakil has embraced a new mindset. “I have two young kids now, and my focus is on being present. I built a stable financial base, and I’m excited about what the future holds,” he said.
Where to Find Shakil Prasla
Eager to connect with Shakil? You can explore Gloves.com for disposable protective products or visit Snack Stop, his convenience store chain, in Austin, Texas. You can also connect with him on LinkedIn.
Conclusion: Lessons Learned from Shakil’s Journey
Shakil Prasla’s journey underscores the essence of flexibility, resilience, and proactive decision-making in the world of business. His story serves as an inspiration, reminding us that even amidst challenges, there lies the potential for immense growth and fulfillment.
