Mr. Mukul Gupta, Managing Director, Capital Numbers Infotech Pvt. Ltd shares his years of experience with us for all the aspiring entrepreneurs. Let’s know from him about entrepreneurship and learn from his mistakes and success.
- Why do you think entrepreneurship is a viable career option?
Mukul Gupta: There are several reasons why entrepreneurship can be a viable career option. To start with I will say, entrepreneurs bring ideas to life, while entrepreneurship bring new products and services to the market. If you have a vision and are passionate about making it a reality you need to start on your own. Entrepreneurship allows you to acquire new knowledge, have greater command of your schedule and most importantly you are completely in charge of your earning potential. A small business owner’s creativity is not defined or constricted by corporate red tape. As an entrepreneur you enjoy the creative freedom associated with calling your own shots.
- What made you choose this domain or industry – IT?
MG: IT is all about problem solving and implementing solutions that help businesses to either make more revenue or save costs. Its a fast moving industry where something new is happening everyday and the potential for learning and doing new things is possibly limitless. To be effective, you really need to take time and learn about your client’s business and their way of working. So, overtime you can accumulate great deal of knowledge about how certain businesses work and what needs to be done to make them work better. No two days are the same and everyday you get to learn new things. Personally, that’s the quality that attracted me to this industry.
- Being at this position, owning a company surely you are enjoying your professional life. Can you share that Eureka moment when you realized that you were born for this?
MG: My eureka moment was not exactly when I started Capital Numbers, but when I figured out our niche in the market and the perfect way to fill it.
Back in 2012 we began our journey. We were then offering professional CMS Customization services at very competitive price. Like every other bootstrapped companies, there were challenges in attracting experienced employees. Hence we thought of hiring freelancers. But things didn’t work the way we had wanted. As we put up jobs on popular freelancing websites our inboxes got flooded with irrelevant profiles and generic responses. Out of that we managed to build a small team of freelancers, all belonging to different geographies, hence they were working on varied time zones. Few of them even disappeared leaving the work half-way.
This is when we came up with a solution to benefit thousands of start-ups and agencies facing similar problems like us through “Managed Outsourcing”. Now instead of hiring freelancers, companies can hire supervised remote workers from Capital Numbers who will be full time employees of Capital Numbers, working dedicatedly for client’s projects on contractual basis.
- Are there any certifications or soft skills required to excel as an entrepreneur?
MG: I dont think that any course or certification can prepare you to be an entrepreneur. But here are some things that I feel are important :
- Ability to take Risks and doing things that make you uncomfortable.
- Focus: There are so many distracting forces when trying to build a business that this skill must be mastered.
- Ambition: Your business cannot grow beyond your ability to think. Being ambitious brings energy and enthusiasm to everything you do.
- Ability to communicate well. This will help you to reach upto the right employees and customers. E) Sales Skill – Every entrepreneur is a sales person whether they want to be or not. As an entrepreneur you are either selling your ideas, products or services to customers, investors or employees.
- Get knowledge of finance management as the lifeline of any business is money.
- What are the excess perks you enjoy?
MG: In the corporate environment you often have limited control over who you work with or for, and it can be draining at best. The hands down No. 1 perk of owning my own business is working with only the best people. Surrounding myself with great people impacts my life even beyond working hours. Moreover, traveling to conferences and events around the world, and interacting and engaging with really smart, passionate people is a fantastic perk for myself.
- Since you have lived through many ups & downs while starting your company, what advice would you like to give to the newbie who wants to become an entrepreneur.
MG: I have a sign on my desk that reads – “Show up every day. Work. Pay attention to your results. Think. Learn. Adapt. Desire to improve. There really is no magic beyond that.”
- Does this industry face PESTEL (Political, Economical, Social, Technological, Environmental, & Legal) challenges?
Political: Very little influence of political situation including change of government. Boosting the image of India in global market. Strengthening of the IT Act- security of data in transmission & storage.
Economic: IT industry is in growth phase and this can seen through increasing contribution to GDP and employment. Indian IT sector is dependent on foreign clients, especially US, for more than 70% of its revenue. So, the fluctuation in the exchange rate can bring a considerable difference in the performance of a company.
Social: English being widely spoken in India has helped in fostering the industry’s relationship and interaction in India and on the global stage. Potential employment opportunity is there for women in this organized sector.
Technological: Government IT spending in India reached $6.4 billion US Dollars (USD) in 2013, a 7 percent increase over 2012, according to Gartner, Inc. This has helped in technological skill development in India. The Indian Internet Companies have come up with Innovative business models. Further the mobile technology is also exploding.
Environmental: Companies are working hard to reduce e-waste keeping environment concerns in mind.
Legal: Indian IT industry has thrived on the work outsourced to them particularly by the developed nations. I think stronger, more transparent IP laws will inspire more business to flow into the country.
- How did your social circle react? How did they contribute to your success?
MG: Without the support of my spouse and family, my entrepreneurial journey could have proven more difficult. My family had been a part of my growing business. In fact, my brother is now the Director of Finance of Capital Numbers. Their support has always made me more confident while cracking deals and have given me strength to remain positive when things would go wrong.
- What does your profession mean to you?
MG: With the position I hold in Capital Numbers, there comes a lot of responsibilities in true sense. As a Managing Director of the organization, I consider all the employees as my extended family. I find it to be my responsibility to look after their well being. This gives the perfect human touch brand Capital Numbers. Investors tell that they invest in people, more than the idea. Customers buy from people, not from a company, at least at the startup stages.
- Do you have a role model or mentor? What inspired you to be in this profession or what keeps you motivated?
MG: The following are the people I consider as my role model:
Swami Vivekananda – India’s Youth Icon, who believed in youth power and inspired Indian youth to improve themselves and the country as a whole.
Jim Rohn – American Business Philosopher whose ideas inspire me everyday
Richard Branson – who reminds me to maintain a spirit of fun and adventure and dream big