It was 2015, the startup revolution had just started spreading its wings and the country along with Vineet Baid, Manish Jain, Vikas Kapoor was in an entrepreneurial mood. The trio had met and formed a close bond during their stint at Jabong. As their days passed in the fast-paced working world of Jabong, the lack of software and services catering to mid-sized retail, ecommerce, third-party logistics and distribution became obvious. Though this gap first became pronounced and noticeable particularly in the supply chain, the trio soon found other existing gaps. Being citizens of New India, they took the natural course of action and founded the startup Precision Pyramid.
The People Behind the Perfection
Vineet has formidable qualifications including a masters in engineering from the noted US college University of Florida. Manish is a Delhi University alumni while Vikas passed out of the celebrated Maharashtra Institute of Technology. Precision Pyramid is unabashedly Indian and seeks to create indigenous if not ingenious ways to address issues in the existing supply chain infrastructure and ecosystem in the country. In the capacity of Jabong employees, the group already had a sound grounding in addressing such issues to other ventures of the Rocket Group of Companies.
Facilitating Digital Transformation
Precision Pyramid’s digital transformation solutions help to ensure that mid-sized businesses in the retail, ecommerce and TPL industries can optimise existing supply chains. By choosing the firm’s products and services they can increase operational efficiency besides digitising the whole gamut of their operations and business processes which at the end of the day significantly boosts the bottomline. The startup stands firm on its core value of innovation which it demonstrates across the whole lifecycle of its services and operations. Another key promise that the organisation espouses and demonstrates in solid numerical figures is providing value to all relevant stakeholders.
Turn Problems into Opportunities With the Right Attitude
Frugality and effective cash flow management has helped to ensure that the firm could stand on its own despite the limited bootstrapped resources that were available to it. Vineet admits that managing the cash flow has been an herculean task but it also ensured frugality on part of the firm which helped. It was “blessing in disguise”, as Vineet puts it nicely.
Another attitude adopted both by the founders and the firm is that they are not the type to take it easy and rest on existing laurels. Indeed Vineet considers their startup journey to have just begun. According to him, family has been one of the key factors that have ensured Precision’s runaway success- not only in bootstrapped funds but also in the form of bountiful encouragement, inspiration and support. Vineet makes it a point not only to acknowledge this fact and also appreciate the tremendous patience they have shown over the years as the team grew and developed into the successful startup it is today.
Tough Choices are a Part of the Path to Success
It is interesting to note that Vineet mentions the salary cuts he was forced to make in the aftermath of the biggest disaster in almost half a century- COVID 19 as the saddest moment as an entrepreneur. He says how he had no option and the deep sadness the move instilled in his heart. However the story is more than that, like all of us who have outlived the pandemic. It is a story of success achieved through the motto of creating value and not shrugging off the hard path when the situation demands.
Such perseverance and the ability to take risks are the formula for entrepreneurial success if there was one according to him. A true patriot, Vineet found the prospect of contributing to national growth and being a part of and contributing to Prime Minister Modi’s vision of a new resurgent India to be a great motivator which propelled him through the long hours, the difficult decisions and the sacrifices.What matters is that they tasted success in the rather lofty goal of creating world-class business solutions while operating from the glorious confines of the country.
A Word of Advice
Vineet is keen to encourage professionals and students to pursue entrepreneurship. To put it in his words, “Be scrappy for experiments/pilots, but spend enough time when building for the long term. I like the quote – for every complex problem , there is an answer that is clear, simple and WRONG. “
That is the precision path to the pyramids pole!