Yashpal Singla

Founder and CEO

IOTASOL Software Solutions

Short Description

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

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.