Mahendraa Kumar D Jain, Founder, Lakshmi Access Communications Systems Pvt. Ltd.(LACS)Team YS
“Dreaming big with Telematics”
A Bangalore based start-up, Lakshmi Access Communications Systems Private Limited (LACS) is the Cross Domain Telematics Services division of the Multi-Crore Devraj Group of Companies. Mahendraa adds “LACS earlier known as Sagar Info Distributors Private Limited, has evolved from plain IT distribution towards Telematics (for enterprise and retails segments).”
Business idea – Mahendraa made sense when he spoke of why he changed the focus of his business. His idea has much to do with preparing for future needs; he says “LACS, in its previous avatar was involved with IT distribution for the HP range of products across India, for over 4 years. As a direct result of needs in its operational environment, LACS entered the Telematics domain as an enterprise customer. However, noticing the lack of standardized approaches to providing such Telematics solutions and services, the core team at LACS decided to investigate and research this domain. On significant assessment and analysis of the Telematics industry, LACS made this move of taking Telematics to the retail consumer and to evolve this technology to the next level of Cross-domain Telematics.”
What sets them apart- LACS is set apart from the rest due to the number of sectors that it binds together. Unlike others LACS has a lot of scope for maneuverability and possesses the range to become a sector in itself. Mahendraa says “LACS operates across industry verticals, bringing together a range of sectors, through a Telematics backbone, such as Information Technology solutions, Automotive Accessories, pan-geographic Retail sales & support channels, Telecommunications infrastructure, Electronics Hardware, Media & Content Management, and Consumer Services. This effectively implies that LACS cannot be bundled under a single industry, and through this plan, LACS is going to create a niche industry vertical of its own.”
“Apart from the market environment, the products being introduced to the Indian market by LACS, offer retail consumers access to a wide variety of on-demand services through a single screen and a single delivery platform.”
Future Plans- Mahendraa unveiled his ambitious designs for the future saying “LACS will be the preferred brand across geographies offering affordable Telematics Services on open technology platforms.”
“LACS is going to create a radically new and different approach to access real-time interactive information on-the-move, through a high-technology Telematics platform.”
“ LACS will offer Indian consumers services to access interactive information on-the-move across products such as Mobile Infotainment Devices, Automotive Interactive Devices and multiple level automotive safety & security devices.”
They will also be scaling up their manpower in anticipation of a greater workload as LACS aims to sell over 1 million units with services, in the year 2010.
His entrepreneurial journey - Mahendraa owes his entrepreneurial tastes to his family, he told us of how it happened saying “I was initiated into the world of business at a very young age, as a result of my family’s involvement in setting up and managing new ventures. I have ingrained the ability and habit to pursue dreams and create businesses as a stand-alone entrepreneur. I believe in thinking big and expanding my horizon of capabilities to evolve towards continually beating my own performance benchmarks. Such an attitude can rarely be accommodated in a regular 9-to-5 job.”
He believes that a venture has no one single biggest obstacle and all obstacles look smaller in retrospect. He says “As one obstacle is surmounted, another one is sure to come up. I believe in constantly learning and improving. My maxim for life is, ‘every problem is a good one to solve’. Philosophy apart, this venture of mine, in the form of LACS, is the biggest yet, as a challenge. And, I am succeeding because I have no other option but to achieve.”
“Over the years I have realized that unless one is open to learning continually, and one retains humility towards all aspects of life, success will evade or not last long enough.
Additionally, thinking through every detail from ‘day 1’ will not necessarily ensure a smooth flow towards success; on the contrary, it will ensure that ‘execution of a plan’ will be indefinitely delayed. I have learnt that it is ok to make mistakes, and that it is absolutely necessary to learn from them and move on.”
Mahendraa has made sure that his financial commitments are only to himself, he says “As a policy, I have always avoided capital inflows for my ventures, from outside. This is something that I have learnt from my elders who run the Devraj Group of Companies. ‘LACS’ in its previous avatar was started from scratch with no external investment or funding. The same applies to LACS in this new adventure.”
Recognition gained – Mahendraa shied away from talking about his laurels but instead says “The biggest achievements are yet to come. Thus far, my biggest achievement has been with respect to bringing LACS, in its earlier form, from no revenue to over Rs. 50 Crores in less than two years.”
“Recognition is relative. I suppose, in a few months, we will be recognized for creating a whole new niche industry and giving the telematics industry and technology the much needed platform for it to evolve.”
Entrepreneurial lessons – Mahendraa is a firm advocate for the supremacy of size, he explains what size means to him saying “Think big to achieve bigger. Never give up the spark/desire to realize your dreams. Entrepreneurship isn’t easy and is not for the faint hearted; however, once prepared to face the road ahead, it is the most exhilarating feeling towards achievement and success.”
Yourstory wishes LACS and Mahendraa much recognition and fame for the grand work that they have embarked on in the field of Telematics. We hope that he carries on working in this fashion and dreaming bigger each time.