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Community > Yashpal Singla
Yashpal Singla

Yashpal Singla

Founder and CEO

IOTASOL Software Solutions

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Yashpal Singla is a member of:

startupcity - Expert

Yashpal Singla's Advice

Believe in yourself

Below are few inspiring Quotes which I would like to share are"Believe you can and you're halfway there. What great thing would you attempt if yo... more>>
Brief about company, offerings and foundation of the company

Our company 'IOTASOL' is IT firm, having
its main focus as Service Provider. We offer following services.
a) Mobile games and
applications for iOS and Android.b) Web development.c) Be-spoke applications
.d) Web Servers for mobile application.I founded this organization in May, 2010
after opting out of my job in well known Indian MNC.

Advice for fellow entrepreneurs

Below are
few inspiring Quotes which I would like to share are"Believe you can and
you're halfway there. What great thing would you attempt if you knew you could
not fail?Success is never final. Failure is never fatal. It is courage that
counts. You have to learn the rules of the game. And then you have to play
better than anyone else."

Some of the difficulties faced while building product/ solution

As we
are service oriented organization, we face regular challenges of maintaining
demand(new requirements) and supply(workforce and deliveries), attrition,
technology shifts and many others.

Three big lessons/ mistakes encountered while building company
First: “Nothing comes, until it comes” So never be sure if some pitch is looking to be 100% in your favor, it will still land it to your pocket. This helps us in keeping balance of resources and speculations.Second: “Maintain Cash Flow”, you should very clear picture about your cash flow for at least next one year.Third : “Risk Mitigation Plan” you need to have very strong Risk Mitigation Plan
Motivation and Drives factor

Passion
towards technology, meeting new clients from across globe, challenging
requirements. There are lot of others things also which we are doing, which
keep us satisfied, motivated and excited.

Different actions if I rebuild my company from scratch all over again
Will
work on all above three mistakes and learning from the startup.
Most critical decision

 I think
most critical decision for me was to start this business risking my job and
most importantly I got married just few days after my resignation. I took it as
a challenge, and my confidence in myself helped me to take it forward. 

Unique about my way of motivating troops

We have a very friendly environment, we don’t have subordinate and
senior culture in our organization, we all are friends irrespective of what
role we are performing.Everyone gets an opportunity to act as a leader and
everyone has his own ‘SAY’.Give them enough opportunity to let them work in the
way they desire.

Way of choosing my people

Our focus
is always on getting people with right attitude and good aptitude level. And
then we give them training according to our needs.

The challenges and lessons learnt to get first customer
I
was very fortunate to get our first customer easily, as it was from very strong
reference and they have full confidence in our capabilities. So it was
cakewalk, but frankly speaking it was really an effort to get the second
customer. We learned that it was very important to be competitive with the
market in terms of rate and timelines.
As a leader how I make sure that I am connecting the right dots

 According to me, connecting the dots take
place later, when you crosses the road. But yes definitely we make right moves
by calculating our risk versus the benefits on each decision we take.

My role at different dimensions as the company evolved
I
started as a single person company to now 10 people team. I have been involved
in doing all type of roles from developer to program manager, recruitment,
finance. So all are been taken care at times, now the responsibilities have
been shared.
Risks involved in business and way of addressing
Various
risks involved area) Ever changing
technology
: we in our organization keep keen focus on updating to
technology needs and updates regularly.b)
Low budgets:
as the market is becoming more open to freelancers. Rates
and budget for similar jobs are dropping regularly. To keep ourselves in
business we try to build custom tools over the time, which reduces are overall
Time To Deliver rather than dropping our margins and prices.c) Attrition: The biggest
problem for organization like us of small level is to cope with employee
attrition. Once they get experience they tend to find better opportunities. We
need to keep them motivated by keeping balance of their wages and work culture. 
Best company I admire globally
I
admire 3M, due to following reasons-Every year 40% of their revenue(acc to one
article) is generated from new innovations.They have most no. of innovation and
patents.They give their employees 20% of time in which they can do what they
want and in rest 80% they work for 3M.It has his wings almost in all verticals.
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