SparX by Mukesh Bansal
Working with Jeff Bezos, Founding ZopNow and Mastering the Art of the Pivot | Mukesh Singh
Episode guests
Podcast summary created with Snipd AI
Quick takeaways
- Approach entrepreneurship as a career and focus on predicting and creating the future.
- Prioritize authenticity and stay true to your values in the entrepreneurial journey.
- Gain and sustain customers, have a clear vision, and practice patience in startups.
- Apply the self-discipline and willpower cultivated through sports to various aspects of life.
- Co-founder dynamics require transparent conversations and the ability to make tough decisions to preserve the company's vision.
Deep dives
Entrepreneurship as a Career
Mukri emphasizes the importance of approaching entrepreneurship as a career rather than a short-term endeavor. He highlights the need to predict and create the future in order to be successful in entrepreneurship.
Importance of Authenticity
Mukri shares his belief in not raising money on a bunch of lies if he doesn't believe in them. He prioritizes authenticity and staying true to his values in the entrepreneurial journey.
Lessons from Startups and Eigen
Mukri reflects on his experiences working in startups and at Eigen. He highlights the importance of gaining and sustaining customers and the need for a clear vision and patience in the entrepreneurial journey.
The Role of Running and Willpower
Mukri shares how running marathons has taught him patience, self-discipline, and the importance of finishing what he starts. He believes that the willpower cultivated through running and other sports can be applied to various aspects of life.
The motivation to start a grocery e-commerce company
The decision to start a grocery e-commerce company was driven by a personal experience. The founder, at a grocery store with his pregnant wife, realized the inconvenience and thought there had to be a better solution. The goal was to optimize customer acquisition and logistics in the grocery industry. By focusing on same-day delivery and leveraging technology, the company aimed to improve the bottom line and provide a valuable service.
Successes and Challenges in ZopNow's Journey
One of the successes in ZopNow's journey was the investment in technology, which allowed them to continuously improve their bottom line. The company built a highly efficient supply chain and focused on leveraging technology to optimize various aspects of their operation. However, there were also challenges with team dynamics as co-founders had different visions for the company. This led to a decision to part ways with one co-founder and make adjustments to the team. The ability to make difficult decisions and maintain a persistent focus on improvement helped ZopNow overcome challenges.
The Importance of Co-founder Dynamics
Co-founder dynamics can be challenging, as there is often overlap and potential areas of friction. It is crucial to have transparent and honest conversations, understand each other's perspectives, and be willing to make tough decisions if necessary. Sometimes, getting the wrong person off the bus is the best solution to preserve the company's vision and success. Starting a company with the right co-founder, one who complements skill sets and shares the same drive, can provide a valuable support system and enhance the overall journey.
Longevity and Motivation for Continued Work
The founder has a strong motivation to work well past traditional retirement age due to the impact and satisfaction derived from creating meaningful change. Working in the retail industry and witnessing the positive impact on the careers of others fuels the desire to extend work and make a lasting difference. The founder believes in the infinite potential of problem-solving and seeks to align personal goals with the company's vision, aiming to work for another 60 years or more to continue making a significant impact.
Overcoming Challenges and Finding Belief
During a challenging period of uncertainty in the business, the speaker recounts struggling to raise funds and losing valuable employees. Despite the difficulties, the speaker maintained a strong belief in their product and its potential to serve the convenience-seeking customer segment. They emphasized the importance of staying focused and not compromising their values for the sake of raising money. The speaker highlights the significance of having a clear vision and the determination to persevere through difficult times.
The Power of Discipline and Delegation
The speaker discusses the importance of discipline and delegation in managing multiple projects and responsibilities. They emphasize the need for discipline in time management and setting priorities. By creating a disciplined schedule and delegating tasks effectively, the speaker finds time for various projects, including a personal farm and a software project called Summarize. Additionally, they underscore the value of finding what truly matters and investing quality time with loved ones, including spending time with their son before he goes to college.
In this episode, Mukesh Bansal (Founder Myntra and Cult.fit) is in conversation with Mukesh Prasad Singh, an IIT graduate who went onto MIT only to know that he would drop out of the prestigious university a year later. An early participant of the first wave of Startups in the 90’s, Mukesh has been a part of some of the most prominent companies working today. ‘ZopNow’, one of the first few online e-commerce platforms in India was founded by him in 2011 which kickstarted his entrepreneurial journey.
This episode sheds light on his risk taking appetite and how he has cultivated a strong will power over the last 25 years working around Startups. From being a member of the core team of Amazon India to serving as Chief Technology Officer at Make My Trip, Mukesh aka Mukri’s journey is nothing short of an inspiration to the young entrepreneurs out there!
We also get to take a deep dive into Mukri’s love for marathons and his influences behind an impressive long list of passion projects. If you are someone who wishes to know more about the experiences of Startups in Silicon Valley or anecdotes of JEE toppers, this episode is specially curated for you. Watch till the end to know for an engaging conversation between these two!
00:00:00 - 00:01:18 Sneak Peak of the Episode!
00:01:19 - 00:03:09 About our Guest: Mukesh Prasad Singh aka Mukri
00:03:10 - 00:05:36 From IIT to MIT
00:05:37 - 00:08:35 Mukesh’s time in Boston
00:08:36 - 00:10:33 Dropping out of MIT
00:10:34 - 00:16:52 Mukesh’s first startup: ‘Oasis’
00:16:53 - 00:22:14 Where does Mukesh’s risk taking come from?
00:22:15 - 00:25:50 Hoping for a brighter future: India’s road to being a developed nation
00:25:51 - 00:30:57 Mukesh’s anecdote about the JEE exam
00:30:58 - 00:33:47 ’The Art of Planning’: Perfecting your plan
00:33:48 - 00:39:39 Learnings from being an employee at eGain
00:39:40 - 00:41:31 Prioritising learning and experiences
00:41:32 - 00:47:37 Mukesh’s passion for marathons and his learnings
00:47:38 - 00:52:51 Cultivating a strong Will Power
00:52:52 - 00:59:58 What made Mukesh move back to India?
00:59:59 - 1:05:20 “Is this India’s time to shine?” Insights on India’s development model
1:05:21 - 1:11:17 How to brace through the early start up years?
1:11:18 - 1:13:03 Internal Satisfaction Vs. External Success
1:13:04 - 1:18:40 Mukesh’s experience working at Amazon & MakeMyTrip
1:18:41 - 1:23:15 The famous Ganesha-Jeff Bezos Story!
1:23:16 - 1:29:10 Boom of E-Commerce in India
1:29:11 - 1:32:42 Mukesh talks about building ‘ZopNow’
1:32:43 - 1:38:46 Handling the Co-Founder Dynamic
1:38:47 - 1:43:00 “Working well past your 80’s”
1:43:01 - 1:58:31 Overcoming struggles building ZopNow
1:58:32 - 20:01:18 Beyond Entrepreneurship: Mukesh’s love for farming
20:01:19 - 2:04:34 ‘Summarise’: Mukesh’s passion project
2:04:35 - 2:08:45 How does Mukesh find time for his projects?
2:08:46 - 2:10:35 Outro: Thanking our Guest
2:10:36 - 2:11:21 Outro Music
About SparX by Mukesh Bansal
SparX is a podcast where we delve into cutting-edge scientific research, stories from impact-makers and tools for unlocking the secrets to human potential and growth.
We believe that entrepreneurship, fitness and the science of productivity is at the forefront of the India Story; the country is at the cusp of greatness and at SparX, we wish to make these tools accessible for every generation of Indians to be able to make the most of the opportunities around us.
In a new episode every Sunday, our host Mukesh Bansal (Founder Myntra and Cult.fit) will talk to guests from all walks of life and also break down everything he's learnt about the science of impact over the course of his 20-year long career.
This is the India Century, and we're enthusiastic to start this journey with you.
Follow us on Instagram: https://www.instagram.com/sparxbymukeshbansal/
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Fasion | Outbreak | Courtesy EpidemicSound.com
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