Companies need to exercise some degree of patience when scaling up the S-curve, while also ensuring they avoid common missteps that could result in the business losing its way, cautioned Abhay Hanjura of Licious, and Saahil Goel of Shiprocket at TechSparks 2022.
The S-curve represents how a company’s product or business model evolves over time and matures. Generally, a progressing curve indicates profitability.
“Shiprocket has made pivots and micro-pivots more than twice and has achieved the S-curve multiple times over the years. But we realised it was too early,” said Saahil, Co-Founder and CEO of logistics startup Shiprocket, while speaking with YourStory Founder and CEO Shradha Sharma at the country’s most influential startup-tech event.
Saahil noted that the company’s numerous pivots had helped it redirect focus on the internal aspects of the organisation, including employees, investors, and customers.
Abhay Hanjura, Founder of meat delivery unicorn Licious, shared a similar sentiment, stating that startups must divert attention to aspects founders often put second.
“Focus on building a strong founding team and better communication within the organisation. S-curves will follow,” said Abhay, attracting applause from the audience.
Licious attained unicorn status in October last year, while Shiprocket joined the coveted billion-dollar valuation club in August this year.
Pranjal Kumar, CFO and Head-Corporate Development at Eruditus Executive Education, added to the candid conversation with snippets from his own experience building a company. “Founders must learn to think medium-term to long-term, and ensure better governance,” he said.
The panel of founders and investors also delved deep into what it takes to build a unicorn.
Pankaj Makkar, Managing Director of Bertelsmann India Investments, emphasised on creating a strong product alongside ensuring a business with sustainable unit economics. He also stressed on the importance of maintaining a constructive relationship with investors.
