Vipool Prajapati
Short Description
Brief about company, offerings and foundation of the company
Xoom Solutions is a mobile development partner. We have a unique model where we work with entrepreneurs in the mobile space. We provide not only technical expertise but also provide feedback on their business models and product design. We offer flexible payment options like deferred payments, revenue share and equity. The company was found in June 2011.
Motivation and Drives factor
I am motivated by the fact that I am making a difference. In 2008, Sramana Mitra wrote a controversial article,Death of Indian Outsourcing and she followed it up with several recommendations, including one about expanding into the tier 2 and tier 3 cities. I felt the recommendations made sense and we opened a development center in Ahmedabad. I am happy that I am able to provide a unique opportunity to talented local youth to contribute to and learn from some of the best entrepreneurial minds in mobile industry. At the same time I am helping entrepreneurs transform their visions into reality.
Three big lessons/ mistakes encountered while building company
The biggest lesson that I had to learn was to spot the serious clients from those just playing around with ideas. We initially wasted time with clients who were just throwing around ideas but were never serious about taking the idea to the next level Another lesson was to know our own limitations and not attempt to bite more than we could chew. And finally, another important lesson we learned was to wait for the right candidates instead of rushing in to hire employees.
As a leader how I make sure that I am connecting the right dots
Everyone makes mistakes but we, as a team, make sure we learn from our past mistakes. The real key is to keep our crisis small. I encourage my team to actively communicate, criticize and voice their opinions.
The challenges and lessons learnt to get first customer
When we were talking to our first customer we went above and beyond what the customer was looking for and provided our input on additional functionality that would complement what they already had in mind. What we did learn was customers have an idea but may not necessarily have grasp on the technical possibilities. Some of our most successful engagements have been where we have provided significant input on product design.
When we started we had to take a decision on whether should embrace this new model of collaboration with entrepreneurs or to be a regular outsourcing company. We reminded ourselves that we really wanted to make a difference and not merely make money and that money is a side effect. We had previously started a mobile venture and we knew first hand the challenges faced by entrepreneurs and we felt we could provide a valuable service to the entrepreneurs.
The risk in our model of business is that payment is not guaranteed. Essentially we only get payment if the client is able to raise money or their mobile application makes significant revenues. We balance this by also taking on paid projects where we get a milestones based payments.
Initially I was involved in all aspects of an engagement from scoping the projects, user interface design and development. However, now my role has become less hands-on. More time is spent working with the entrepreneurs to refine their ideas and to provide my learning from working with other entrepreneurs. I also spend a lot of time in coaching my team.
I instill a sense of ownership in my employees. They interface directly with the clients and learn a lot through the inevitable cycle of constantly evolving tasks and product iterations. I encourage them to think about the technical possibilities and provide their inputs to clients. This provides them with a well-rounded professional growth that very few companies can provide.
We look for more than just technical expertise. Our hires need to have an entrepreneurial attitude and should be able to roll up their sleeves and take up any work. I am also impressed by extra-curricular activities they have done. Between two given candidates with comparable technical capabilities we usually go with the candidate who may have won, say, an essay competition.
Believe. In yourself, in your product and your vision. Your energy and passion will inspire confidence and will attract the right set of people and circumstances. And don’t do something that you don’t believe in. Entrepreneurship can be tough with unexpected setbacks. It may not be your first, second, third or fourth product idea that clicks but it may be your fifth product iteration that finally takes off.
I would focus more on building a unique product rather than a services organization.
Our model is to work with entrepreneurs as their partners and in the process we have also gone out to investor meetings to help them raise money. Investors investing at the seed stage are usually looking for a strong team that complements and works well together. Having a working prototype is definitely an advantage when talking to investors however what seems to impress investors the most is if you already have users and you are able to show how well you understand your users.
Apple continuously impresses me. Apple has single-handedly transformed the state of mobile landscape. I think Steve Jobs, was a fantastic visionary and a leader. His leadership style may not have been the most congenial but he has deeply imbibed a culture of innovation and ingenuity in the company. Apple’s fanatical focus on the user and on product design has inspired other companies to do the same.
For an entrepreneur, leader and manager, I cannot stress enough the importance of having the right team in place.