Strategy must to succeed, but keep experimentingSudhir Naik, eInfochips co-founder
Sudhir Naik, Founder Member of the leading IT company shared his mantras on becoming successful at a seminar organized by IACC
Ahmedabad: A strategy is a must to succeed, but keep experimenting, and keep amplifying what is working for you. This was one of the many success mantras that Mr Sudhir Naik, Founder Member & Senior VP, Corporate Affairs at eInfochips, told a group of budding entrepreneurs at a seminar organized by Indo American Chamber of Commerce (IACC).
“A strategy is a must. My strategy, as well as that of eInfochips, was to swim against the flow. And we have reaped benefits of it,”Sudhir Naik, eInfochips co-founder
Mr Naik, who turned 70 recently, was speaking at a seminar on ‘How to tap international market: Optimal sales strategy for creating global footprint’ organized by Gujarat branch of IACC at AMA on Friday. Incidentally, Mr Naik is also a former chairman of Gujarat branch of IACC.
Mr Naik also cited examples from the journey of Ahmedabad-based eInfochips, which was acquired by Arrow Electronics in 2018 for $320 million, as the company scaled up operations.
“Scaling up operations is always a challenge. We were stuck at $4 million in revenue for many years. Then, we scaled up and were stuck at $10 million, at $25 million, at $40 million, and so on. There are always blocks, and one has to figure out ways to overcome them,” he said.
He also stressed on understanding the geography and culture of the market one is targeting.
“As we became bigger and expanded, we realized that what was working in the US, was not working in Europe. We had to take a different approach. Similarly, what worked in Europe, did not work in Japan, since the local culture and sensibilities are different,” he explained.
Mr Naik, who comes from a small village in Navsari district, also advised the audience against fearing failures, and said that one can learn many things from failures.
Earlier, Mr Pankaj Bohra, 1st VP of IACC-WIC (Western India Council) spoke about IACC and its crucial role in promoting stronger trade relations between India and the US. He noted that US has become India’s largest trade partner, but added that there is tremendous scope to increase bilateral trade between the two nations.
Mr Dinesh Daga, Chairman of IACC Gujarat branch gave an outline of the activities of the Chamber’s Gujarat branch.
Mr Shailesh Goyal, Senior Vice Chairman of IACC Gujarat branch presented a memento to Mr Sudhir Naik at the end of the seminar.