MercuryMinds turned 10! Our hearty thanks to all our clients, staffs, business partners on the occasion of 10th Foundation day celebration. We also wish to share some of the recent happenings in our company at this time and set clarity to our future.
Dinosaurs are an apt and widely used metaphor today. After all, if a firm can’t or won’t adapt, it’s straight to the dustbin of business oblivion. A business enterprise is not totally dissimilar from a dinosaur, ignore rapidly changing circumstances, and a leader authors his or her company’s demise. “It is not the strongest species that survive, nor the most intelligent, but the ones most responsive to change.”
Adapt to rapid changes better than our competitors and we’ll make great strides. The best antidote for rapid change is competence, focus and energy in the executive team. From young to the next stage of life, Knowing this, we had decided to scale up further, betted on products and started building management team in 2013 to grow better and faster. As an entrepreneur and leader of the business, the challenge is always at “scaling up stage and be ready for marathon”. The dream to grow was big and excited.
What went wrong: In Business, adapting effectively to rapid change takes serious money. We found money both expensive and difficult to get in the investment community. We failed to make it successful in 18 months period, since it is built on a foundation of loans, poorly matched cash flow, assets and liabilities with respect to maturities and currencies. The management team is tired, cynical and stubborn after the failure. Our enterprise is losing ground in product, people, quality, service, image, customer satisfaction, unit cost and profitability comparisons rapidly in a year time at 2015. Personally as a founder, the biggest challenge is not managing the uncertainty or failure or the society (of course) to rebuild the business. But, I was unable to make decisions even small things, losing my self-confidence. Low in self-confidence never allowed us to work and address the problems. we were searching help from external people whoever we meet, to solve the problems. Noone is ready to. The biggest problem above all is “We were not ready to accept and lose all our dreams and goals, We lived with more than 8 years. Fortunately, the problems we faced in the past 24 months didn’t allow us to dream and we forgot and lost everything eventually. It pushed us to the edge of finding a way to come out, getting into basics and started working hard relentlessly to make it right. It taught us “to deal with the mental fallout of failed business and wasted time”. We didn’t give up.
How good are we at 2017:
In 2008, it was started with 2 people in a room. The company grew to 10 people, then 50, then 70 and so on. Similarly, revenue jumped 100% Y-O-Y. Yet the company lacked the “infrastructure, systems and know how” to successfully manage that growth. “We grew without having a solid foundation,” After our biggest failure in 2015 (key clients left, key team members left, Low in sales, high in debts), Now, “We were better as a smaller business.” Currently, we are smaller (40 members team, single layer management) and thus more sustainable. “We’re nowhere near the size of the company when it was at 2013, nor do we want to be. We know our own limitations. Being smaller allow us to be laser focused in offering Enterprise solutions (Retail, E-Commerce, Logistics) and Virtual Reality apps development to few clients at higher satisfaction. The new team and management are fresh and energetic. Our enterprise is now gaining momentum in people, quality, service, customer satisfaction, unit cost and profitability.
What we focus: Our company focus now only on 20X formula (20 ongoing customers in Software Development and Consulting services for E-Commerce (www.mercuryminds.com) , Enterprise Mobility solutions (www.mobibees.in), Virtual Reality Apps design & development (www.alliancestudio.in).
What we promise: We commit to increase your business 5x times by solving your problems with innovation. We can’t predict what problems may occur during project development phase. But, we are prepared for what problems can’t be predicted.
Available Project buckets: We know that our current 40 members team is smaller and equipped to ship the deliverables in sprints. Thus we are limited in taking up new projects. Unlike in the past, we exercise and evaluate before we commit to a project. Thus we always update “how many project buckets (teams) are free to take any new projects in our website”. If something will not fit into out cup of tea, we will leave them to pass by. We promise we will not risk our client business and waste our clients time.
Our enterprise is finally adopted to the needs of our clients without getting any further investments or loans or support from outside.
- Technology: Offering Mobility solutions needed by enterprise clients. Got expertise, tools and team to meet them. New Studio for Augmented Reality and Virtual Reality solutions.
- Project Management: Changed to Agile methodology to rapid delivery.
- TRUST: Winning customers confidence back.
We are so thankful to all people and clients who stood with us during the time and supported a lot especially to the people who was not ready to help us, showing us the way to seek solutions inner and find a new destiny!