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Startup > My Story > Jay Prakash Sinha
Jay Prakash Sinha

Jay Prakash Sinha

CEO
Centhrix Technologies

Short Description

Be clear and be focused towards your goals. The product or service should be targeted towards users’ pain points. The solution should be simple. Most importantly, the product/ solution should immediately connect users with their pain points. At the end, it is all about sales, so be very objective on your sales targets.

Brief about company, offerings and foundation of the company

Centhrix through its platform, CALIBRIX, offers enterprise solution for an organization’s human resource management. It addresses end-to-end HR transactions, processes and analytics. It further allows connecting with the 3rd party service providers to complete the entire workflow. The offering is web-based and harnesses the cloud-based technology to provide an efficient product at affordable cost to the client. The company, Centhrix Technologies Private Limited was set up in August 2011.

Risks involved in business and way of addressing

Some of the major risks which we foresee and their mitigation strategies are mentioned below: 1) Customization and service risks: The larger the customization, the higher would be resource requirements. It needs investments to increase resource and customer support base. Constant and real time customer support team is mandatory to enhance experience. If missing, could lead to loss in repeat business. 2) Sales, marketing and business development risks: Hiring a quality team is always a challenge especially when resources are limited. We are, however, able to get a good team by way of offering a combination of salary, incentives and stock options. We have aligned Sales team’s incentive with performance to overcome this risk. 3) Financial risks: Running out of resources before breaking even is big risk. It is not an immediate risk and we expect to break-even within 2 years. However, an external funding would allow us to grow at an accelerated pace and alleviate this risk considerably. 4) Operational/ Technical: We have outsourced our development process. We understand the need of internal experts on product development, implementation, technology and subject matter.

Most critical decision

The most critical decision to was to press the start button after freezing on the idea. A meticulous planning to the finest level of details, research on market, products and competition helped us to avoid pitfalls.

Some of the difficulties faced while building product/ solution

The first and foremost challenge was to develop the product, either internally or externally. A great level of in-depth detailing was required. First module was the learning phase, which took us longest time to develop. Once the learning was in place, subsequent modules were developed at a brisk pace.

Three big lessons/ mistakes encountered while building company
1) In software product development, do not leave anything for developers to assume. So detail, detail and detail as much as possible. 2) Keep your costs under check and be agile to make changes, to save costs. 3) Add people based on the value they can add to a start up
Different actions if I rebuild my company from scratch all over again
The only thing we will probably change is to have one anchor client before we start.
Motivation and Drives factor
The excitement is to do something, which was, not tried before. The excitement is of creating a solution, which helps individuals to be more efficient and disciplined in their career.
Unique about my way of motivating troops
Allow an individual to figure out her own ways within the boundary conditions without too much of interference. The concept of small working teams having their own goals and helps them decide their own course. And finally a transparent incentive structure for individuals based on achievements.
Way of choosing my people
We look into the present capabilities, expertise and competence of an individual candidate rather than past experience and education qualifications alone. We add people based on the value they can add to a start up like us.
The challenges and lessons learnt to get first customer
There are more than 10 active clients who are evaluating since we launched our product in the current quarter. Being an enterprise solution product, the decision making process is longer. Hence it needs a pipeline of clients, from cold-calls to negotiation table, which we are focusing on. Most importantly, our business is purely sales driven; hence customer acquisition is a learning process in itself.
Experience of reaching out to potential investors
We have interacted with couple of investors in the past where the interest has been quite high. However, we do not believe it is the right time for us to look for investments from the valuation perspective.
My role at different dimensions as the company evolved
As an entrepreneur, I wear multiple hats. For me, it means getting into the shoes of users with various roles and responsibilities to begin with and start thinking the way one will think under different circumstances. The role, which started as a thinker, went through multiple roles of page designers to HR manager to Finance manager to Sales manager.
As a leader how I make sure that I am connecting the right dots
At this stage, my role is to guide each individual for their roles and esponsibilities and then allowing them free hand to execute. My involvement is absolute and it is 24x7. So it is management by example.
My thoughts related to entrepreneurship/ leadership and management
A leader has to be simple, straightforward and transparent. He/she should put the big picture in front of every individual so that there are concerted efforts to reach the goal.
Best company I admire globally
I admire Google for its abilities and capabilities besides being non-complex for the users.
Advice for fellow entrepreneurs
Be clear and be focused towards your goals. The product or service should be targeted towards users’ pain points. The solution should be simple. Most importantly, the product/ solution should immediately connect users with their pain points. At the end, it is all about sales, so be very objective on your sales targets.

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