Dump the chalta hai attitude: How to build a billion dollar firm

Everyone dreams of his/her company becoming the next billion dollar firm. What does it take to get the billion dollar tag? At a recent meet in Mumbai, four leading names from established firms spoke at an impromptu session on what they think is essential to get ahead of the curve. The country is leapfrogging to the global arena. “2014 also witnessed hyper-growth in the technology start-ups and software product landscape, India ranking as the fourth largest start-up hub in the world with over 3,100 start-ups in the country,” the recently released Economic Survey said. With more start-ups emerging in the Indian start-up space, here’s how to get a head start from those who have been there, done it and continue to make a mark. [caption id=“attachment_2143095” align=“alignleft” width=“380” class=" “]  Pic[/caption] Vishal Gondal, CEO, Goqii, (pronounced Go-Key) –California-based fitness technology venture that offers a wearable fitness band paired with remote personalized coaching – started the firm after selling his startup Indiagames, the country’s first and  largest mobile gaming company to Disney for $100 million. He says: – Take care of your health (comes obviously from the fact that Goqii is a wearable technology firm focused on health care). If you can keep yourself free from illness for 10-15 years, you can live for more years – You have to think global. There is no room for localized players. If you can be ambitious to want to become the global number one or two, you can play the game well. Unless of course you are in China, which can shut Google and say yes to local players! – Remove the chalta hai attitude which is reflected in products and people. You don’t say it is a `small’ problem and not put in more people to set it right! Avanish Vashishta, Managing Director, Accenture India – Each business is a digital business. Think of markets as digital – Remember you cannot build the products alone. You have to collaborate with partners and others in the eco system – Your reputation and your partner’s reputation is collectively dependant on your product/services – Think of aligning culture and what culture you should develop together Atul Jalan, MD and CEO, Manthan.  Founded in 2004, Manthan software provides retail solutions for supplier collaboration, store operations, finance analytics, human resource analytics etc. The firm currently claims to have had added 28 customers in the last year and seen a revenue growth of over 70 percent annually. Along with Bangalore, it also operates out of the US, the UK, Singapore, Brazil and the Philippines. – Be confident and you will succeed. Back yourself up, always – Be very clear about what is core and what is not – In India, a lot of start-ups pivot too fast. Be cautious about that Sandeep Singhal, Co-Founder, Nexus Venture Partners, a venture capital fund with offices in India and Silicon Valley has funded 57 companies till date.  The company focuses mainly on technology, internet, media, consumption-driven players in the education, healthcare, FMCG, financial  services and in business services. – Focus: Figure out which market you want to go. Do not go wide and broad – Fail! : Fail, Fail Fast – Hire the best you can find and people who are better than you