These are exciting times for us in the Indian software products industry. The air is pregnant with cautious, yet very strong optimism that some truly great product companies will emerge out of India in the coming years. There is a significant shift in the mindset of Indian entrepreneurs, with a focus now on building great products and not just good enough products. A talent pool of highly qualified and experienced professionals who have worked with MNCs across various functions and roles is now available. The support system has also gotten stronger with more angel investors, accelerators and incubators, focused events and meetups with founders, entrepreneurs and experienced professionals coming together, sharing their knowledge and helping each other. Entrepreneurs now have more exposure to the Valley and other innovation hotbeds and international markets by virtue of their interaction and participation with accelerators, investors and entrepreneurs outside of India. More importantly, we already have examples of successful Indian product companies that have built products for the world and are now well-established names in their businesses.
I’ve stated this earlier as well, that it is my firm belief that the software product industry will lift India out of its poverty. While I strongly believe we’re firmly on track to make the prediction come true, I would also like to strike a note of caution. Having been in the industry for close to 25 years new wearing multiple hats and seen it evolve, there are some observations I would like to share with the readers.
Rome wasn’t built in a day. It’s probably the most cliched phrase, but I think it makes sense repeating the cliche once more in the current context. As entrepreneurs and investors, it is indeed important that we celebrate key wins and milestones like funding, new hires, entry into new markets etc. However, we also need look at the larger, long time picture and focus on what is needed to build a meaningfully successful company, a company that creates value for all the stakeholders – founders, employees, investors and most importantly the customers. And it is that part, of envisaging the larger picture and actually painting it, which is a true test of one’s faith in their core beliefs, their endurance and perseverance.
It is said that dramatic changes happen in a dog’s lifetime. Dogs usually live between 10-15 years on an average, and if they were to follow technology they’d be witnesses to some incredible and eventful happenings. Ten years maybe doesn’t seem like too long a time for us humans, but I were to borrow from the tagline of a very popular coffee chain, a lot can happen in ten years! Rewind ten years to this day, and this is what we would be looking at. Facebook, Groupon, Zynga did not exist. Google’s AdSense & LinkedIn were just about to be launched. On the mobile side, Nokia was the largest vendor of mobile phones and Samsung hadn’t introduced mobiles phones in India yet. Seeds of iOS and Android had probably just been sown in the minds of their creators. In the fast-paced world we live in, it’s very easy to miss how much can happen in what now seems like a short period of ten years. But if you take a step back and notice each of the happenings, you’ll realise how impactful and significant these changes are.
The observations and insights from the points mentioned above hold a lot of meaning for us in the Indian software product industry. While it’s very natural and fair to expect things to move quicker, people to be smarter, government and regulators be more friendly, investors be less risk-averse and so on, but it is also important to remember that magic doesn’t happen overnight. However, small wins and milestones added up over time will see your product and your company achieve something significant over time. Moreover, as an entrepreneur, you’ll need to believe in non-linear growth and that there’ll always be a point from where your growth will take off and go the hockey stick way. Remember, that Angry Birds was Rovio’s 52nd game and they were almost bankrupt at the time they released Angry Birds. What if they had given up after their 50th game? Of course I believe in overnight success, and the only overnight success is getting a good night’s sleep! For all other kinds of overnight success, there are miles to go before one sleeps!
I’m reminded of a tagline that Timex watches had for a long time. (A Timex watch)…takes a licking, but keeps on ticking. That’s some inspiration for us entrepreneurs there! I’ll leave you with some vintage Timex commercials. Hope you enjoy them.
http://vintagetimex.homestead.com/farmer.jpg
YouTube Video – http://www.youtube.com/watch?v=7_fKppH8B0g
Happy Building,