A journey into the field of Market ResearchChaitanya Inampudi
"......even restless days are going to be more pleasant than the usual sleepless nights."
One late night, or is it in the early morning; it finally dawned upon us. The four year journey we embarked upon to transform into men from boys is going to get over in a few months. We’re going to enter into realms of corporate culture of which we got a taste already, thanks to our previous internships. But questions lingered. Unlike an internship, this time it is for the long run, for we do not have college to fall back after 6 months. Unlike the enthusiastic learning stages this seems to be a grueling 9-5 battle, for what’s seems to be the road ahead. Lastly, unlike last time, there are going to be multitude of responsibilities on our shoulders. After discussing these pivotal questions which would eventually shape our futures, we all reached a conclusion. We all like the work but we want to work in our own way and on our own terms. Inevitably, with the strong tradition that our college inculcated, we had only one answer for all those questions – Startup. It may sound like a whim but I dare say we had had the entrepreneurial spirit within us already since we already took upon on a venture in our younger days, which taught us that when you work with passion and sincerity, even restless days are going to be more pleasant than the usual sleepless nights.
Every start-up has 3 components; idea, funding, execution.
So, after the big decision, came the particulars. Every start-up has 3 components; idea, funding, execution. In our case, the idea was pretty much a done deal since the beginning. With three of us having a pharmaceutical background and prior experience in Market Research, we aspired to collaborate with some of the largest healthcare firms in the world. The whole idea was based primarily around healthcare, because it is a basic amenity that the world would need for eternity and also the sheer amount of logistics involved in it. Once the core idea is in place, working around it is the challenging part and that is where I believe we succeeded. We’ve analyzed loads of data, gone through industry standard reports, contacted experts in the industry and finally made a product which met all basic requirements, after endless hours of brainstorming. However, the key to transforming such a basic product to an industry benchmark is the ability to adapt and innovate. After countless iterations and changes, now, we can proudly say that Market Data Forecast research report is one of the benchmarks of market research industry but more about it later.
Funding is never easy to get, but we try to prove ourselves to the world before we move on to bigger scale. Hence we started by bootstrapping the company and now we are successfully going into our first fiscal year with set targets achieved. Getting the background work done is important but executing the plan is vital for sustenance. The industry where we decided to enter into is very peculiar in the sense that it needs a blend of experienced professionals with the raw enthusiasm of young blood. Location played a key role in our journey since most of the market research firms based out of India are from Pune. However, we being set up in Hyderabad had an allure wherein anyone from this country has some or the other thing to like about this city. Moreover, the corporate plus startup culture we implemented takes the best of both systems and top notch professionals who saw the potential in an up and coming firm have helped us in achieving our goals.
Today, with 1500+ research reports across multiple domains, we also offer customized research services to both corporate and individual clients. Some of our esteemed clientele includes world renowned consultancies like PWC, McKinsey, ZS Associates, Booz Allen Hamilton to name a few. We’re also associated with many multi-billion dollar global giants like Coloplast, Merck, Bayer, Syngenta and many more across the world. But, things that truly satisfy us, say, getting positive feedback from a student in Berlin, Germany doing his masters on F&B management or a researcher with Ph.D. in Pharmacology whose aim is to eradicate all animal diseases from Africa, who are helped in their own ways with our customized research services. It helps to keep us grounded and remember our goals and laden us with tiniest bit of pride when we sleep in the night.
"In retrospect, all our questions are answered ................... we are in it for the long run."
In retrospect, all our questions raised within ourselves are answered. We’ve shown passion and dedication in serving our clients and leading the company, we’ve upheld the responsibilities that are donned on us and we are surely in it for the long run. These are exciting times for Market Data Forecast as we look forward to expand our reach and serve more clients across more domains with even more zeal.