Rohit Pansari’s journey from entrepreneurship to driving business profitability

Our team got an opportunity to interact with Mr. Pansari, excerpts of the interview below:

1. Describe the key takeaways from your professional journey so far, across domains.
   Being honest with oneself is an important value to uphold. It involves acknowledging and accepting one's true thoughts, feelings, and desires, without self-deception or denial. When you are honest with yourself, you can better understand your strengths, weaknesses, and motivations, which can help you make informed decisions and take actions that align with your authentic self.

Putting in consistent effort, staying committed to your goals, and being patient can eventually lead to positive outcomes. However, it's important to note that the timeline for achieving results may vary depending on the nature of the task or goal, and external factors that may be beyond one's control. Consistency would give results, definitely. Just keep towards your aim with full dedication.

Being a good leader and supporting your team is also of immense importance. The leader should take ownership of situations and circumstances that are unfavourable. Always remember - credit your team for all the achievements/success (big or small), and take responsibility for the failures because ultimately it's your failure as a team leader.

2. What are some of the key trends that you notice happening globally which should be replicated soon in India too.

a) E-commerce and Online Marketplaces: E-commerce has experienced significant growth globally, with increasing consumer preference for online shopping and digital transactions. This trend could be replicated in India, as the country has a large and growing population with increasing Internet penetration and smartphone usage. E-commerce and online marketplaces could see continued growth in India, driven by factors such as convenience, expanding middle class, and digital adoption.

b) Renewable Energy and Sustainability: There has been a global shift towards renewable energy and sustainability, driven by concerns about climate change and environmental impact. India, being one of the world's fastest-growing major economies, has been making efforts to increase its renewable energy capacity and promote sustainability. This trend is likely to continue, with the potential for increased adoption of renewable energy sources and sustainable practices in India, including solar and wind energy, electric mobility, and green infrastructure.

c) Fintech and Digital Payments: This has been rapidly evolving globally, with the use of digital wallets, mobile banking, and other technology-driven financial services gaining popularity. In India, there has been a significant push towards digital payments and financial inclusion, with initiatives such as demonetization and the growth of mobile wallets. This trend is expected to continue, with the potential for further innovation in fintech and digital payments, including peer-to-peer lending, blockchain-based solutions, and financial literacy programs.

d) Lending and neo banking: lending and neo banking trends are rising in India, as the country undergoes a digital revolution and fintech companies disrupt the traditional banking sector. Customers today are looking for personalized, convenient, and transparent banking experiences that can be accessed anytime, anywhere. Neo banks, which are fully digital and branchless, are catering to these changing consumer preferences by offering seamless banking experiences through mobile apps. These trends are expected to continue shaping the Indian banking landscape, offering new opportunities and challenges for the financial industry players in the years to come.

It's important to note that trends can change over time and may be influenced by various factors, including economic conditions, government policies, technological advancements, and societal changes. Businesses and policymakers should carefully assess the local market dynamics and regulatory environment in India before replicating global trends, considering the unique characteristics and requirements of the Indian market.

3. In your opinion, what are some of the major reasons behind the IPO decline trend?

a) Market Volatility: When markets are uncertain or experiencing turbulence, companies may choose to delay their IPO plans due to concerns about their ability to raise sufficient capital or achieve desired valuations.

b) Private Financing Options: Companies have more access to private financing options, such as venture capital and private equity, which can provide ample funding without the need to go public. These private financing options may offer greater flexibility, control, and confidentiality compared to going public, which can lead companies to choose alternative routes to raise capital.

c) Risk of Underperformance: The pressure to deliver strong financial performance and meet market expectations can be daunting, and some companies may choose to avoid going public to mitigate the risk of underperformance and negative consequences, such as stock price decline or reputational damage.

d) Increased Focus on Profitability: In recent years, there has been a growing emphasis on profitability and sustainable business models, with investors placing greater scrutiny on a company's financial performance and profitability prospects. Companies that are not yet profitable or lack a clear path to profitability may face challenges in going public, as investors may be more cautious about investing in such companies, resulting in a decline in IPO activity.

e) Regulatory complexities: IPOs are subject to various regulatory complexities that companies need to carefully navigate to ensure compliance with applicable laws and regulations. It is crucial for companies to seek expert advice from legal, financial, and tax professionals to effectively manage these complexities.

4. With the startup culture becoming more and more rampant every passing year, what is the most critical advice you would like to give to budding entrepreneurs?

One needs to have a super strong networking and be a jack of all trade. You need to be agile and must be quick in responding to crises or any other difficult situations. Secondly, the leader must have full faith in his team. The leader should invest in its team by guiding and mentoring them. Be watchful of their progress and also give them the due credit in case of good ideas and solutions in any given project. Appreciation boosts performance like nothing else.

I have stressed on the importance of being agile before as well, and would reiterate as many times as necessary. Being on your toes to solve or tackle tricky situations is of immense importance. The leader, along with the team, should solve a bad situation at the earliest possible, without any rest.

5. A personal inspiring incident that you would like to share that made you who you are today?

As an entrepreneur at DoneThing (a concierge startup), I learnt that one should never shy away to do any work. A couple of times at DoneThing, I complete the tasks in the rare absence of the delivery agents. Once there was a request for fresh new footwear by a customer who broke it while stepping down from a metro station. I could understand the situation and the criticality so I did the delivery myself and it left me feeling good.

A couple of other things I would reiterate are - when you are working in tough financial situations, there's no fear of losing so you work more efficiently; secondly (though as cliché as it may sound), always adhere to deadlines.