Sridhar Vembu, CEO and Founder of Zoho Corporation, has the best tip for Small and Medium Entrepreneurs. His advice to them is to focus on the Indian villages. In his opinion, whether it is a product or a service, entrepreneurs should focus on customer and customer experience to succeed. The key to success is ensuring the best customer experience. And, the best advertising is word of mouth, through which an entrepreneur can raise his or her customer base from one to ten and, gradually, to hundreds.
To achieve India’s economic target of $5 trillion by 2025, entrepreneurs must consider the rural economy as a hub for production and finance. In villages, entrepreneurs can get land at cheaper rates and business centres at a lower rent. This will help an entrepreneur significantly reduce the cost of capital.
Skill development is another path to entrepreneurial success. Something that Soho follows. The Zoho School of Learning Initiative selects students between the ages of 17 and 19 from high schools or polytechnics and equip them with practical skills. A business is likely to be successful by moulding regional talents. This will allow entrepreneurs to nurture a loyal and job-oriented workforce.
The attitude to empower such talents is a must for entrepreneurs. Sreedhar Vembu believes that in a country like India, it is important that entrepreneurs should help balance the rural economy and enhance local talent. Soho is a leading company in the software as well as the service sector. It has more than 60 million users worldwide.
According to the Forbes list, Vembu is the 59th richest person in the world with a net worth of over $25 billion. The 53-year-old is also a technocrat who was awarded the Padma Shri in 2021.