Dinesh Agarwal of IndiaMART on building profitable marketplace and growth compounding
Curated from: Blume Podcast
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Early Life
- Returned to India after internet was announced in India in 1995.
- Was curious for tech and was looking to explore more options, started creating websites for businesses.
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Early Development
- Had to rely on sustainable development as venture capital was not a thing.
- Didn't try to force any development and did not rush throughout the process.
- Started as services solutions to established businesses and digitized paper based content for businesses
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India Mart : Origins
- The idea was ahead of it's time and he had complete trust trust in the idea.
- He started funneling his services business gains into his marketplace idea.
- Used to print queries of US based customers and send it to suppliers.
- International export oriented.
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Compounding at Scale
- Business growth at 20% growth is considered excellent ,30% is phenomenal.
- Had set 10% growth as baseline.
- Believes that compunding is not only about revenue and customers growth but puts emphasis on profitability as well.
- Believes in structuring business that that promotes profitability at some some point of time.
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When To Shift Gears
- Thorough emphasis on break even period and it decides whether to choose growth or profitability.
- Believes in having good margin on products and services.
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Web To Mobile First
- Move from international first to domestic first based on demand from local buyers.
- building for local led to mobile first development.
- focused more on utility aspect of the game 🎯
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Role Of Leadership
- Founders long term view should be believed by employees as well.
- Focus on preserving talent in the organisation
- Preference to stable and high energy relations over unstable ones, mix of talent is required.
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Core Ideology Of Org.
- Customer centric model and believed development of revenue for wellbeing of employees and investors.
- Did not chase unicorn status.
- Focus on Product market fit and becoming profitable.
- Did not rely on VC and focused on sustainable development.
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52 reads
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CURATOR'S NOTE
Dinesh Agarwal on building succesful digital marketplace and view on compounding & growth.
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