1. Describe about your Business and founders
In many young organizations, the company founder or a co-founder serves as the CEO. However, just because the roles are commonly held by the same individual does not mean they are interchangeable. It also doesn’t mean this setup is ideal for all businesses. During the early stages, many companies operate in an “all hands on deck” manner, meaning the team members on board handle all aspects of the business, including leadership. Before we examine how the founder and CEO roles differ from one another, let’s discuss what it means to be a founder of a company.In business, a founder is an individual who forms and establishes a business or organization. The founder is typically responsible for setting the mission and vision of a company.
Essentially, a founder takes a business from an idea to an entity. As mentioned above, in the early stages of a company, team members wear many hats ensuring the work gets done to keep the company going as it grows and scales. In many situations, this means the individual who created the business is often tasked with managing the overall operations of the company as CEO.
Most successful businesses begin with a well-thought-out business plan, and in many cases, it’s up to the company’s founder to ensure a business plan has been created. The key elements of a an effective business plan include the executive summary, a description of the company’s business model, market analysis, the products/services your company offers, operational plan, the marketing and sales strategy, and a detailed financial plan.
Startup companies are often established from a specific product idea or service the founder wants to offer customers. Along with determining what products to offer, founders are often tasked with determining the company’s mission and vision to keep their employees and team members aligned and on the same page regarding how they best serve their customers.
In the beginning stages of a company, the founder is often tasked with determining what kind of governing body or board the business should have, along with who should be on it. Once the board is put in place, the company’s founder may oversee the relationship between the board and the company.
The company’s founder is also responsible for any initial funding to get the business off the ground. This could mean applying for loans or financing, applying for grants, seeking venture capital, or using their own personal assets to fund the initial business costs until the company begins earning enough revenue to cover costs.
Now let’s examine some of the roles and responsibilities of the CEO. When we reviewed the job of a founder, many of the tasks focused on the beginning stages of the business. The role of the CEO, on the other hand, has roles and responsibilities that extend throughout the lifespan of the company. While the specific role of the CEO can vary depending on the size and nature of the company, here are some common responsibilities that are owned by the company’s CEO.
Though the founder is responsible for determining what kind of governing board oversees the company, the CEO is tasked with maintaining these relationships and reports directly to the board.
In many companies, the CEO goes to the board for guidance around major business decisions. The CEO also communicates business updates and milestones to the board to ensure company performance is on track.
2.What is the biggest challenge of being a CEO and how do you overcome it?
At the moment, my primary role is that of a founder who is trying to create something new. Our vision is that everyone in the world will have digital identity hosted on true Me, which they will use to get seamless, convenient and private access to buildings, events and things. This is a huge challenge and my Endeavour - along-with my co-founders – is to lay down a solid foundation for the same, in terms of technology, business processes and team building.
3. Where do you see the company in the next five years and how will you bring about the change?
In 5 years from now, true Me will be a well- known brand in India, Middle East and USA. The company will have become the flag bearer of Iot driven access management and will hopefully be leading the movement towards digital identity- based access ecosystem in its chosen geographies.
4. Did you ever feel like giving up on being a CEO and what motivated you to pull this off?
At the moment, my primary role is that of a founder who is trying to create something new. Our vision is that everyone in the world will have digital identity hosted on true Me, which they will use to get seamless, convenient and private access to buildings, events and things. This is a huge challenge and my Endeavour - along-with my co-founders – is to lay down a solid foundation for the same, in terms of technology, business processes and team building.
5. Describe your biggest achievement
It’s too early in the day to talk about achievements. True me is a work-in-progress. We are doing many things right in terms of our product focus and laser sharp GTM strategy & execution. However, we have a long way to go to realize our dream of creating an access ecosystem based on digital identity and authorization.
6. From where you get the idea for business?
I come from a background in real estate and my co-founders come from deep experience in technology. The idea came to our mind when we observed visitors struggling at the reception of the wonderful buildings created by my previous organization. Present access ecosystem is so heavily dependent on physical identity and legacy technologies and we need a paradigm shift. That shift is possible with deep tech such as Iot, AI and ML.
7. What was your aim to start the company?
The Goals of a Business. The primary purpose of a business is to maximize profits for its owners or stakeholders while maintaining corporate social responsibility. To give employment to the rural people.
8. Tell us some of your failures
Oh, there have been many failures. For example, at the initial stage we struggled a lot with creating our own hardware and learnt it the hard way that instead we could ride the robust hardware e.g. phone and tablets already developed by companies by spending billions of dollars. We are doing exactly that now and have made mobile the main vehicle of truMe’s multiple interfaces. Another mistake was to repose great faith in the channel in the beginning of our Business Development journey. A channel cannot build the business for you, it can only ride the brand once you have created it
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9.What is the role of your family in your successful career?
Successful Career” has strong unidimensional connotations. I am more interested in variety and depth of experience. I’ve had an eclectic career, which would not have been possible without the amazing support that I have received from my family. My parents always let me chase my dreams and did not burden me with expectations that normal middle-class parents end up doing so often. I have changed course often and my wife has been a rock of support, taking all those changes in her stride. My embracing entrepreneurship a bit late in life would not have been possible had I not been secure in the unstated support of my wife.
10. What is your message to the young generations and to their parents?
To entrepreneurs, I would say that what you are doing is noble. You are the worthy leaders that the society and the country need. You will face many challenges, for what you have chosen is an extremely difficult, uncertain path but if you keep the faith, the journey will deeply transform you, enrich you and make you into someone you’ll be proud of.
To parents, I would say fear not. Let your boys and girls choose. And be grateful if they choose entrepreneurship. It’s the finest path your kids can choose. Support them. It’s a difficult path but it will shape them, and you will be very proud of what they end up becoming. Great societies and nations stand on the broad shoulders of entrepreneurs. Be happy that your kids have strived to elevate themselves to that class.
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