Here’s how you can achieve profitability according to Knowlarity's founder

USD billion in value- this is what every aspiring start-up entrepreneur is gunning for today.

This extremely hard to attain state of business that can only be achieved by the infusion of fresh ideas with great potential for creating sustained demand and revenues and yet, we see companies like Snapdeal getting to that high-horse and then falling.
Business Insider asked Ambarish Gupta, CEO & Founder of Knowlarity, which is a leading cloud telephony solutions provider that provides B2B solutions like IVR solution, Call Center and Virtual Number Solutions to multiple companies. Their model has become so successful that in six years, they achieved profitability and expanded to other countries. As a model for a successful entrepreneur Mr. Gupta shares his insight into how can start-ups achieve the ‘unicorn’ tag that they revere.

Numerous entrepreneurs crowd the long list of failed attempts at achieving the coveted throne of a ‘unicorn start-up’ and mostly, it is the lack of careful planning and vision that does them in. While there’s no blueprint to achieving a valuation of a billion USD, there are some things which Ambarish thinks are imperative if entrepreneurs want to make it big- The idea/offering/concept/service

Identifying this right product is the key to establishing a big business. Firstly, an entrepreneur needs to identify the usability of the product. Whether it is niche or pervasive-globally, a product should be able to engage thousands of customers to generate millions in revenue. It is very difficult for start-ups to convince users to pay a very high amount for a product that is just being introduced, thus entrepreneurs need to focus on quantitative revenue at the beginning. Furthermore, investing huge resources into creating a product merely based on prediction is not prudent. Instead, entrepreneurs should focus on building a Minimum Viable product (MVP), market it and keep developing it based on the feedback from initial customers
Scalability

Building repeatable processes-research, product development, marketing, sales, customer support, all of this constitutes a product cycle that needs to continue in an optimum order for the business to function smoothly. The necessity of a business to follow a particular sequence is essential to bring stability and predictability, thus reducing the cost associated due to variable factors.

Talent

Hiring talented people is essential for a business to achieve epic proportions. Professionals who are experts in their field while also being open to multi-tasking and switching job roles in moments of crises are extremely vital to the business. Ambition and Alignment with organization’s goals are the most important pillars based on which professionals should be on-boarded before the business ship sets sail.
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