Like every entrepreneur faces many challenges and hurdles, Bipin Chandra, Founder & CEO of Esyasoft Technologies Pvt. Ltd. has also faced many, and one of the main hurdles he faced was convincing the customers-‘Yes We Can Deliver’. It was very important because the energy sector is filled with Grey Hair people with huge domain and industry expertise and they are very comfortable with the legacy systems. In this industry, a new player like Esyasoft with no previous domain experience and a small team was considered as a huge risk. Everyone was unsure about Esyasoft being able to deliver any complex solution
Secondly, in the energy domain, new innovations come with their own set of challenges. With so many regulations and policies, an innovation which changes the process has to be well thought out so that adapting according to it gets easier and faster. There are a lot of stakeholders in the projects Esyasoft does, and it is through the policies and regulations that managing all would yield faster results.
Creating a profitable and sustainable business model is also challenging because there are many ways the firm can diversify into! There are so many opportunities out there in the market and one has to be very careful of what would engage in a long-term sustainability and profitability.
Managing investor expectations is another task for the entrepreneur. The most crucial thing is the investors believe in your goals and plans, and are able to trust you. Winning that confidence amidst all the uncertainty and risk is a huge challenge. Bipin faced all these challenges single-handedly and planned the strategies to tackle them.
Delivering the Need of Time
Bipin Chandra is responsible for everything right from Vision, Strategy, and Business Development to Overall Growth of the company.As an entrepreneur since 2010, Bipin always wanted to be unique and more over to create a real impact on the world and the society. The need of smart grids and smart cities is growing. Cities like Bangalore comes to a standstill after a few hours of rain, the electricity shortages everyone faces on a day to day basis are forcing to take steps towards the technological growth. To deliver this need of time, Bipin established Esyasoft with the vision to nurture smart solutions for the connected world.
Winning the Market
Bipin always wanted to build a profitable and sustainable business and create an organization with values. Through this company, he is able to see an impact that they can have in the Indian Electricity sector. Bipin wanted to get the technological growth that have into this sector. Our business is unique as in this infra intensive sector we provide software & analytical solutions and that too with a fast turnaround time. We have been able to adapt to the changing environment by
being lean and nimble on our feet. The very customers that were suspecting of our delivery capability are now intrigued that we have been able to deliver a successful solution much faster than our giant competitors. Bipin’s company today is the pioneer in India serving the software solutions and Analytics needs of Smart Grid for utilities. It is the only company in India and perhaps globally to provide Integrated Smart Grid Suite which takes care of the entire need of solutions for transforming the existing utilities into a smart utility.
This commitment and focus helped Bipin and his team to successfully enable & transform India’s first smart grid, Smart utility project at Mysore.
The biggest lesson Bipin has learned is to mention every detail of the deal and services in the contract. At the start they did not realize this as a necessity, but with the time they started to describe everything. Because of this procedure their relation with the clients got even better. Because of the transparency, the client’s satisfaction boosted and ended into a long term relationship.
While the business was growing, Bipin got confidence and as the scenario was in the favor of his plan, he realized that he needs to scale up within a short period of time. Initially, because it was a startup, their progress was at a very high rate, and because of specified timelines he had to hire people having the right technical skills who could handle the pressure of being working in a start-up. At this time, he didn’t give importance to age and experience, he judged the candidates on the ability to learn and deliver fast, the drive to try new things and being able to emerge with the culture of the organization. Today Bipin’s company offers a high degree of skills, IPs and Domain expertise to deal with the requirement & existing issues of the utility, unmatched in the industry, backed by continuously improving quality systems and processes.
Bipin totally attributes the success to the team, who has been there since his company’s inception. “The company has been through of lot ups and downs and they have stood by me and my vision whatever it takes. I think the biggest success is to the team,” says Bipin, while dedicating the success to his team.
Words to Live by
There are many entrepreneurs with a lots of ideas, Bipin says, “Ideation without implementation is a hallucination,” so always take action on the idea that you believe in don’t wait for perfection, things get evolved over time. Also, don’t focus only on having investors on board. Always try to bootstrap and start building a sustainable business.
“Finding a path/solution where others can’t find anything, a huge risk taking appetite, innovation, leadership to inspire people with your vision, being able to take decisions in uncertainty, are some qualities that are a must in an entrepreneur,” adds Bipin.