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Sachin Bansal: Lessons About Life And Leadership

Smruthi Kishore

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The year was 2007 and companies were struggling to make their presence felt. When Sachin Bansal quit his job at Amazon, he knew he had to create something larger than life, an e commerce platform dedicated solely for marketing books on the internet. From creating a platform solely dedicated to selling books, Flipkart grew to such a large extent that it was taken over by Walmart in one of the largest acquisitions to date! From being a startup in just a two bedroom apartment to achieving an impossible dream, Sachin Bansal has achieved a lot. Here is taking a look at some truly inspiring life lessons from Sachin Bansal!

1. Always keep the customer in mind 

At the time when Sachin and Binny Bansal started Flipkart in 2007, e commerce based platforms were not heard of and were an alien concept. The idea was just brewing and developing, with companies like MakeMyTrip and IRCTC paving the path for a new innovation. When the Bansals started, they broke the code no one else had: your customer is your ultimate goal and whatever you do, should be done keeping them in mind. Even when Flipkart was only a platform for selling books, it still did really well because of the way the Bansals marketed the website. Keep your clients and customers close and your business will grow!

2. Experiment. Experiment. Experiment. 

With a business plan focused strongly on enhancing customer experience, it was imperative for the two founders to always be innovative and creative. After the first three years of only selling books, the Bansals realised it was about time they changed the products they sold. From playing around with their website’s interface to creating a diverse range of products, the founders started adding a brand new range of products meant to not only keep their current users engaged, but also to increase the number of people visiting their website! Rule of thumb? Always experiment with the kind of things you have to offer!

3. Work with people who believe you can succeed

When you are growing in life, there are always people who will pull you down in everything you do. Despite their best interests, these kinds of people have more of a negative impact than a positive one. Learn to let go of the people who are bringing you down in life and have only those around you who help keep you afloat! To get better at what you do, keep the people who help you grow closer. The naysayers are always going to be there, but that does not mean you have to always listen to them! For instance, when Sachin Bansal first started off, he had a lot of people telling him the internet era was just a phase. Had he listened to them, Flipkart would not be here today!

4. Learn to adapt 

When you expand, you will have to learn to adapt. You cannot always think life will fall in your lap without any backlashes. When you expand and move out of your comfort zone, you know there is going to be backlash after a point. Three years post the launch of Flipkart, the time had come to expand into new horizons. If they had to stick to the rigid boundaries of their industry, they would have never grown! Learn to adapt with not just the changing trends, but also the new products coming into the market. So, grow, learn and always keep thinking on your feet!

5. Know that success will come, but will be slow 

You know you have put in the hard work and you have put in the amount of time required. When you know you have invested the right kind of time into the business, also know that success will come hand in hand. Just do not be impatient and do not run. In the initial years, Flipkart did not even break even, forget making a profit. Only after diversifying their product range and sticking to the growing trends did the platform realise any form of profit! Remember the tortoise? Slow and steady always wins the race. You will too!

Sachin Bansal has grown to become the man he is today because of the amount of time and effort he put into the business. If anything he has done in life has inspired you to make a change, comment and let us know!

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How To

How To Build Trust With Clients

Smruthi Kishore

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How To Build Trust With Clients,Client Relationship Building Skills,Build New Clients Trust Factor,Clients Trust Factor,Important of Clients Trust Factor,Build Client Relationships,How Clients Build Trust,How to Build Trust in Business,Client Relationships,Clients Trust,Best Startup Ideas 2018,Best Startups in India 2018,startup stories,Startup Success Stories 2018

For new businesses to grow and have their marks felt, the most important factor is trust. When you are working at a company, your reputation is everything and when that does not work the way you want, things can get messy. With your entire future at stake, building and establishing your trust factor is definitely the most important thing. Here’s how you can get people to not only take you seriously, but also believe in what you have to offer to the world.

1. Show your clients your human side

More often than not, one of the biggest mistakes a company makes is the way you approach your clients. Have a human touch to your messages and make sure people understand what you are saying.

2. Show your clients you trust them as well

One of the primary things to learn about trust is, it has to be earned. You need to let the other person know you trust them as well and that can only be done if you put everything about you as a company on the table. It is also important to know that your clients are not stupid. They know what they are doing and saying, so make sure you give them the benefit of doubt in these cases.

3. Stick to your commitments

The moment your clients realise you are a company which sticks to your word, trust is not far off. If you can’t keep to your commitment, then explain the situation and let your client know why something didn’t happen as planned. The more you give your client an insight into your ways of working, the more validation you get from the client. Always a good rule of thumb for building trust!

4. Display competence

When you show your clients you are in the business for the long run, one of the key ways to do that is by displaying competence. Know what you are talking about and when you don’t, understand the situation and get complete clarity on what is happening. Make sure you are completely honest about what you are saying because while people can understand lack of knowledge, a lie is harder to forgive.

5. Value feedback

While you may know what you are saying and doing as a company, it is important to understand the other person is only saying what they are because they have constructive feedback. The feedback may be obtained in the form of a quick survey or through pointers received from the client. Take what makes sense to your business and let your client know you appreciate what they have to say in a manner which does not come off as defensive.

6. Create an experience

Treat your clients in a way which lets them know they have your complete attention. Always remember the saying, “Marketers don’t make the brand, people do.” Make every interaction with your client memorable, in a manner that ensures longevity in memory!

While building your company in itself is a hard task, establishing trust is harder. If you think there other ways you can build trust between you and your clients, comment and let us know!

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Technological Trends To Look Out For In 2019

Smruthi Kishore

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Technological Trends in 2019,2019 Technology Predictions,Future Technology Ideas,2019 Technology Trends,New Tech Coming Out in 2019,New Trending Technology,Future Tech Trends 2019,Technology News Today,2019 Tech Trends,Best Startup Ideas 2018,Best Startups in India 2018,startup stories,Startup Success Stories 2018

The growing presence of the digital world is impacting not just our lives, but also the major trends in the world. While this past year saw an evolving of artificial intelligence and robotics, the coming year is going to see the presence of brand new trends not just on the digital front, but on the technological side of the world as well.

1. Edge Computing

What started off as cloud computing has now given way to something really exciting in the form of edge computing. Edge computing is here to help solve all the glitches that cloud computing initially had. With faster processing, edge computing can be used in time sensitive situations, with no particular necessity of being connected to a centralized connection. Furthermore, with the increase in the number of devices connected to the Internet of Things, edge computing will have a stronger presence in the world.

2. Artificial and Machine Learning

Artificial learning and machine learning, while a strong part of this year, will be quite worth the watch even in 2019. Although AI has been around since 1956, the last year saw an increase in the number of people around the world connected to devices through AI. Through the increasing usage of AI, technology and digitization evolved to give way to machine learning. Apart from reducing the amount of time spent on work, machine learning is going to be one of the most sought after jobs in 2019!

3. Digital Twins

A digital representation that replicates real life objects, processes or systems, digital twins can be linked to create twins of larger systems such as power plants, or even an entire city. While the concept of digital twins has been around for a some time now, the year 2019 is going to see a stronger, especially with the increasing usage of the Internet of Things. One of the major technological trends in the coming year, Digital twins are going to help in reducing the amount time spent on getting the work done.

4. Blockchain

A system that allows companies to simplify the process of online transactions with one another without relying on a centralized third party, blockchain is a trend that has quickly picked up in the last year and is going to be one of the forebearers of the change in technology in 2019. Drastically cutting down the amount of time and friction between transactions, the coming year is going to see blockchain being used in various fields like administration, healthcare and manufacturing.

5. Smart Spaces

Designed to give humans and technological systems the chance to interact with one another in open, connected, coordinated and intelligent ecosystems, smart spaces are going to be one of the major breakthroughs in 2019. With technology playing such a massive role in everyday life, smart spaces are going to help in reducing the amount of time which goes into getting the final deliverables out, thereby increasing the time spent on perfecting the already existing processes. With smart spaces, there will be an evolution in technology with a focus on multiple areas like healthcare and real estate!

With this year already seeing a growth of technology toward a different direction, the coming year looks quite exciting. What other trends do you think are going to be there in 2019? Comment and let us know!

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How To

Signs Which Show You Are Meant To Be An Entrepreneur

Smruthi Kishore

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Have you ever had that itch, when you worked at the same place for a long time and realised you just are not meant to work for someone else? Have you ever had that feeling where you are never satisfied with what you do, no matter how interesting your job profile may be? Then you probably aren’t cut out to be a part of the corporate world. While most people don’t think they can branch out on their own and become an entrepreneur, if you have these signs, then this is the role for which you have been looking!

1. You like taking risks

Were you the first one to jump into things everyone was scared of doing when you were a kid? Were you always known for walking down the longer and scarier route instead of taking the easiest road out? Then these are all clear signs of you being a risk taker! One of the key features of being an entrepreneur is to be able to take calculated risks and if you were able to do this all your life, then the stars are clearly aligned in your favour.

2. You never felt like you belong

More than half the entrepreneurs in the world never felt like they fit in the normal ways of life. If you think the 9 to 5 schedule is not meant for you and you were never able to stick to a pattern, then the corporate life isn’t meant for you.

3. You want to keep learning

One of the major traits entrepreneurs have is a love for learning. Everything is new and everything is exciting. There is no dearth of knowledge in the world and when you think there’s a new subject, the learning is always better and more exciting.

4. You like walking on the path not known

The ability of being able to think outside the box is what sets entrepreneurs and businessmen apart from each other. While most entrepreneurs have the urge to move beyond the conventional path of what is already there, it is the entrepreneurs who work toward creating their own boxes. If you were never okay with being ordinary and common, then the entrepreneur life is for you.

5. Competition is your middle name

Have you ever had the urge to always be better than everyone around you? Were you never satisfied with standing second on the list? Then you are a truly competitive person and you like coming out first, always! Having a competitive streak is one of the most important traits possessed by an entrepreneur and if you fit under this category, you know what your end goal should be!

6. Your eyes are set on the bigger picture

If you were never bogged down by the inconsequential things in life, then you know you have your eyes set on the bigger things in life. You have a vision and your mission in place and when you work to make your dream come true, you know you have your eyes set on a future which is far from what meets the eyes.

When you are an entrepreneur, you don’t just wake up one day and realise you want to branch out on your own. There is always an urge and a push which makes you want to do something bigger in life. If you think we missed out on any other characteristics, comment and let us know!

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