Growing up an IT company
By V K Mathews
For budding IT entrepreneurs, here are some simple truths that I learnt along the way.
Truth #1: Have a clear vision when you set out.
Back in the 1990’s, when I decided to turn an entrepreneur, I had a dream – to start a company that adds value to the customers business. Due to my background in the aviation industry I chose to develop transformational business solutions to the travel, transportation and logistics industries. The vision was simple, play out in an area where you have the maximum expertise and one which offers a lot of promise. It took me a year to work it all out. In 1997 my company, IBS Software Services, was born – with 55 employees.
Truth #2: There are two things that can never be compromised – People and Precision.
I learnt that a brilliant idea is just work in progress. Ideas take life only when smart people are around to nurture it. I have always believed that people are a company’s biggest asset. A start-up gets rolling only when the right people come on board.
When smart people are at work, there is one another thing that naturally falls into place – quality, or Precision, as I call it. Precision, one of IBS’ core values, is critical in a competitive market. Quality can be compromised, but only for immediate gains. For long term sustainability, it is important to be the best in what you do.
Truth #3 Understand your customers & his needs.
Once you have the right vision and the right people, what next? In a fiercely competitive environment a lot many in the market may offer similar products. The key is to understand the customers and their requirements. Most businesses fail because they cannot meet this simple criterion. You could use all your capital, make elaborate plans, hire a big team to develop a solution, and in the end have the fruit of your labor go waste because your product was no different from what your competitor offered. That little extra, which you could easily have offered, could make all the difference. For this to happen, you need to be alive to situations and innovative in approach. Only this way can you meet customer expectations.
About the Author
VK Mathews is the founder Chairman and CEO of the IBS Group, a leading provider of IT solutions to the global travel, transportation and logistics industries. Mathews founded IBS in 1997 at Technopark, Trivandrum. Today, IBS employs over 2000 staff across 12 offices in all five geographies, and provides solutions to over 150 world-renowned brands including some of the world’s best airlines, busiest airports, leading cruise lines, top oil & gas companies, travel distributors & hotel groups. V K Mathews started his career in 1979 with a Masters in Aeronautical Engineering from IIT Kanpur. He is considered a thought leader in the global Aviation industry.