In the world of entrepreneurship, few stories are as inspiring as that of Mr. Sanjeev Bikhchandani, the Executive Vice President of Info Edge, the parent company of India’s first dot-com company, Naukri.com. His journey from humble beginnings to creating massive wealth for himself and his stakeholders is nothing short of remarkable. In this article, we explore the winning strategy he used to build Naukri.com and how you can apply similar principles to leapfrog your own business.

Mr. Sanjeev Bikhchandani’s Journey to Success

Mr. Bikhchandani’s career trajectory showcases how dedication, innovation, and the ability to take calculated risks can lead to tremendous success. Here’s a snapshot of his journey:

Starting from the Ground Up: In 1990, Mr. Bikhchandani began his professional career with GlaxoSmithKline, earning a modest salary of Rs 8,000-10,000 per month. Little did he know that his career would soon take a massive leap.

Founding Info Edge:
In 1995, Mr. Bikhchandani founded Info Edge, which would later become the parent company of Naukri.com. The company’s foundation was laid with a vision to create something groundbreaking in the digital space.

Launching Naukri.com:
By 1997, Mr. Bikhchandani launched Naukri.com, which has since become India’s leading job portal with a dominant 70% market share. The company grew exponentially, attracting millions of users and employers.

A Revolutionary IPO:
In 2006, Info Edge took Naukri.com public, listing it on the stock exchange. This was a major milestone, making Naukri.com India’s first dot-com company to be listed. The move proved extremely successful, skyrocketing the company’s valuation.

Impressive Growth in Revenue:
From a modest Rs 18 lakh in revenue in 1999, the company grew to Rs 45 crore by 2006, demonstrating incredible financial growth.

The Winning Strategy: Letting Go of Operational Control

One of the most important decisions in Mr. Bikhchandani’s success story was his ability to let go of control over day-to-day operations. While many entrepreneurs often hold tightly to every aspect of their business, Mr. Bikhchandani made the bold move to step out of operational roles in 2013.

He appointed his COO and director, Hitesh Oberoi, as the new Managing Director and CEO of the company, allowing him to focus on higher-level strategic decisions. This move proved crucial in unlocking valuable time that Mr. Bikhchandani could invest in other ventures.

This strategic shift allowed him to explore new opportunities, particularly investing in innovation-driven startups, including:

• Zomato.com (Food delivery and restaurant discovery)
• 99Acres.com (Real estate platform)
• Shiksha.com (Education platform)
• Shopkirana.com (B2B e-commerce platform)

These investments not only generated passive income for him but also added tremendous value to the business ecosystem.

Key Learnings from Mr. Bikhchandani’s Success

The success of Mr. Bikhchandani’s ventures offers several critical insights for entrepreneurs looking to grow their businesses. Here are the key strategies he followed:

Business Innovation:
Innovate new products and services that solve significant problems for your customers. By creating solutions that meet your target market’s needs, you can build a loyal customer base and scale your business efficiently.

Strategic Partnerships:
Build strategic partnerships with other businesses that can create mutual value. These alliances can help you expand your business faster and reach new customer segments without incurring heavy costs.

Fundraising for Growth:
Always look for opportunities to raise external funding that can accelerate your business growth. Whether through venture capital or other funding sources, external capital can help you expand your operations and market presence.

Massive Action Plan for Entrepreneurs

To replicate Mr. Bikhchandani’s success, here’s a powerful action plan:

Unlock Time from Daily Operations:
Focus on business growth by delegating operational tasks to a trusted management team. This frees up your time to work on innovation, partnerships, and strategic planning.

Build an Efficient Management Team:
Hire a team of competent professionals who can efficiently handle daily operations. This will ensure smooth business functioning while you focus on scaling.

Introduce Innovative Ideas:
Constantly work on creating new ideas that solve your customers’ biggest problems. Whether it’s a new product, service, or platform, innovation is key to staying ahead in the market.

Establish Strategic Partnerships:
Collaborate with other businesses to create synergies that benefit both parties. Whether it’s through joint ventures, affiliate marketing, or co-branding, partnerships can drive growth.

Secure External Funding:
Use external resources to fuel your growth. Whether through angel investors, venture capital, or government grants, funding can give you the capital to expand operations, enhance technology, and reach more customers.

How to Leverage Online Tools for Business Success

In today’s digital age, tools like Google search, credit cards, and business accounts are essential for managing finances and operations. Use online tools and apps to track expenses, plan your taxes, and ensure your business is running smoothly. You can even download small business planners or use financial management tools in Excel to organize and analyze your business operations. These tools will help streamline your processes and allow you to focus more on strategic decisions.

For entrepreneurs looking for financial products, credit cards are a useful tool for managing cash flow, purchasing business necessities, and even earning discounts. Keep track of your expenses, use the best cards for your business needs, and enjoy the benefits of discounts on business-related purchases.

Conclusion

The story of Mr. Sanjeev Bikhchandani, founder of Naukri.com, is a powerful example of how strategic thinking, business innovation, and smart decision-making can lead to monumental success. By focusing on the right strategies and unlocking time from daily operations, you can also create wealth not just for yourself, but for your stakeholders and shareholders.

Take inspiration from this case study and apply the principles of innovation, strategic partnerships, and funding to your own business. The path to success is right in front of you – it’s time to take the leap.

Categories: Busyness To Business