Interview with Yashpal Singla, CEO, and Founder of Iotasol, a Custom Software Development Company in India
Yashpal Singla is a CEO, and Founder of Iotasol (A custom software development company based in India).
He is an engineering graduate with around 20 years of technical experience and 12 years of entrepreneurial experience. Yashpal is married and has 2 beautiful kids.
Please tell us a little about your entrepreneurial journey
From the beginning of my career as a working professional, I knew that entrepreneurship is my true calling.
I was simultaneously exploring various sectors to begin my entrepreneurial journey. When asked about my long-term goals in my first appraisal meeting, I told my managers in an upfront manner that I see myself running a business of my own in near future.
Some market research and a few mistakes helped me understand that I should go with an IT firm as this is where my expertise lies.
I started freelancing along with my job and would work on freelancing projects at night. After gaining relevant experience, I took the leap of faith, quit my job, and started Iotasol in May 2010.
The rest is history. Having started as a one-man army, we are now a software development company with a big team providing its services in many countries across the globe.
Kindly brief us about your company, its specialization, and the services that it offers
Yashpal Singla: The services we provide can be divided broadly in the following categories. Mobile and web app development.
We specialize in creating a strong digital presence for businesses through intuitive, user-friendly, and affordable websites and mobile applications for iOS and Android.
Digitizing business processes- We help businesses become more efficient by replacing manual work with automated processes. This way, they can work on their business while we work in their business.
Advisory and Consultation- We offer business consultation, process improvement and data strategy services and act as stable technical partners for our clients so that they can stay competitive in this ever-changing market.
What is your biggest USP
Yashpal Singla: Iotasol’s biggest USP is our wholesome engagement with our clients. We not only act as a development partner for our clients, rather, we become a part of the vision behind the product they want to bring to the market.
We pour in our feedback based on years of experience and shape the vision of the client. This way, we make sure, that a scalable yet impactful business model should be created by every collaboration.
Our proactive contribution from the ideation to the final deployment of a product as well as a stable technical partnership for future updates makes us stand out among other software development companies.
What made you choose this type of business?
Yashpal Singla: I had explored different domains at the beginning of my entrepreneurial journey. After some trials and errors, I figured out that I should stick to what I knew best i.e. software development.
And it turned out to be the right choice as my technical skills and relevant experience in this field helped me assist my team at every step.
What was your mission and vision at the outset?
Yashpal Singla: My mission has always been to empower businesses through imaginative solutions. I believe that when innovative ideas meet innovative digital solutions, success becomes a sure thing. This is what we aim to deliver for our clients.
What is your Leadership Mantra
Yashpal Singla: As a leader, I believe in being truly democratic. I exercise democracy in a way such that all my team members can feel free to express their opinions or thoughts on matters of concern and that every opinion is respected and heard.
There is no strict hierarchical structure that hinders the growth of anyone. I believe in being an approachable leader who is available and not difficult to reach out to.
What’s your company’s goals?
Yashpal Singla: Our collective goal is to always deliver software solutions to our clients which can meet the needs of the future.
We make sure that we keep ourselves updated on ever-changing technology trends and apply these learnings to the current solutions we are developing. This way, our goal is to always become the first choice of our clients.
What was the inspiration behind turning an entrepreneur
Yashpal Singla: The desire to make a positive difference in society has been my inspiration for entering into entrepreneurship.
My vision was always about delivering the best of its type services to the clients along with establishing a company culture where people feel happy, heard, and satisfied.
Moreover, entrepreneurship could help me do something for the unprivileged strata of society and I am close to fulfilling this desire as a proper plan is in making regarding this.
What have been some of your failures, and what have you learned from them?
Yashpal Singla: As a beginner, everyone makes some mistakes, there are a few lessons that I have learnt from my challenging times.
Nothing comes until it comes- Never be sure that a project will land in your pocket even if the pitch looks 100 percent in your favor. This way, you can maintain a balance between resources and speculations.
Risk mitigation plan- In the competitive market, success is fickle and never permanent, so one must always have a strong risk mitigation plan ready.
Maintain cash flow- You should have a clear picture of cash flow for at least one year and should have the backup to meet the contingencies successfully.
Key things to consider before starting a startup
Yashpal Singla: Beginnings are always hard and it is harder when you are getting into the shoes of an entrepreneur. One should calculate the risk and financial pressure involved in the respective venture if things do not turn around.
Apart from this, before one starts, one needs to identify and be prepared for all the roles and responsibilities that they need to take on since the number of resources is limited in the beginning.
One should have something to fall back to in case things do not go as planned. So keep a plan B ready. Moreover, one must understand that results take time, so hold on to persistence and confidence.
It might get emotionally, financially, and physically taxing at times, but that’s how anything is built, isn’t it?
What are some of the biggest mistakes you’ve made?
Yashpal Singla: There must be countless mistakes that I have made so far and there will be mistakes in the future as well.
What we learn from our mistakes and what measures we take to not repeat the same mistakes is what matters.
If I have to mention one, it will be my nature of trusting people fully has been my biggest mistake so far.
I tend to give my 100 percent in every relationship and trust people which sometimes backfires on me. But that is the way I am.
If you had one piece of advice to someone just starting out, what would it be?
Yashpal Singla: The most important piece of advice from me would be to have immense faith and confidence in yourself.
Nobody knows it all in the beginning. So, learn the rules of the game on the way and play it better than anybody else.
Your success tips for young and aspiring entrepreneurs
Yashpal Singla: My quick tips for aspiring entrepreneurs are.
- Be persistent- Keep on making sincere efforts persistently even when things aren’t happening as per your expectations.
- Stay honest and Transparent- The rare traits of being honest about your values and being transparent with people in your business can take you a long way.
- Keep Learning- Never stop learning and be open to learning from anybody and everybody.
- Have Confidence- I can’t emphasize the importance of confidence enough. It is the ultimate necessity to unravel your true potential and to taste success.
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