Three words for entrepreneurs – Satya Prabhakar, CEO, Sulekha.com
- Idea – The important one is the idea,and the business model that works along with the idea,to convert the opportunity into revenue and profit. It is very hard at the outset to know if a particular idea will work or not;it is impossible to know. Because, if the idea is 100 per cent guaranteed to work, somebody would already be doing it; then it doesn’t lend itself to innovation. But if the idea is unproven, how it meets with real market out there and whether it will succeed or not, it has a lot to do with luck. Having said that, I think the ability to change a model along the way and be flexible calls for being entrepreneurial. That is the hard part.
- Team – You cannot achieve a lot on your own. You need the help of people to implement the vision.
- Resources – Companies have failed with too many resources, and companies have failed for not having enough resources. You need to have the right resources applied in the right places.
Satya heads a company that boasts of some impressive numbers. For instance, it is #1 most popular Indian site for local commerce, with 30+ million visits/month from users seeking to transact, and 5+ million connections and transactions a month. With 3+ million business listings, and 75,000+ SMB/SME customer base, it draws 3+ million classifieds ads and responses a month.
Satya, who holds a Bachelor’s degree in Electronics and Communications from NIT (REC), Trichy, has a Masters in Computer Science and an MBA from the University of Florida, Gainesville. His interests include chess, tennis, writing, investing, and Zen, informs his company site. To that list, I can include his continual eagerness to update knowledge by attending seminars and conferences, where I often run into him. “Satya had worked for about 12 years at AT&T, Honeywell, Philips and TCS in technical research, product development, business development and general management roles before founding Sulekha.com as an interactive/transactive platform for Indians and growing the company to its current position as a leading broad-based digital commerce company.”