Sanjay Mehta of Mirum India on building a business as an entrepreneur

In this episode of Insights by Punctuate Inc, Saloni Surti engages in a candid conversation with Sanjay Mehta, Co-Founder and Director, Mirum India. Titled ‘Business 101 with Sanjay Mehta,’ the discussion features Mehta sharing valuable insights from his extensive experience as an entrepreneur, offering practical advice on building and scaling a business.

At the beginning of the session, Mehta highlights three key elements crucial for scaling an agency business, drawn from his personal journey. The first element he stresses is the importance of thoroughly understanding the client’s goals and assessing the business aspect comprehensively. This foundational step ensures that the agency can align its services to meet client needs effectively.

Another critical element Mehta underscores is the importance of cultivating a strong organisational culture. He believes that a positive, cohesive culture within the company is instrumental in driving success and fostering a productive work environment.

Reflecting on the early days of Mirum, founded around 2009, Mehta shares how he anticipated the social media boom. This foresight allowed Mirum to position itself ahead of the curve, capitalising on the burgeoning opportunities in the digital space. 

Mehta also emphasises the necessity of agility in the fast-paced, ever-evolving industry. He advises entrepreneurs to remain flexible and responsive to market changes, which is crucial for sustained growth and relevance.

“It’s a good time to start a venture when the economy is down,” Mehta remarks, highlighting an often overlooked strategic advantage. 

Throughout the conversation, Mehta recounts lessons from his experience in building Mirum to its current standing. He advises entrepreneurs to dismiss the notion of building a business solely for acquisition by a larger network. Instead, the focus should be on creating a robust, capable business from the outset.

He further stresses the importance of differentiation and developing unique selling propositions (USPs). These elements are crucial for standing out in a competitive market.

Drawing from his personal journey, Mehta cautions entrepreneurs against chasing every opportunity that comes their way. He advocates for setting realistic goals and prioritising focus on a limited number of clients with significant growth potential. This targeted approach ensures that resources are effectively utilised and relationships with key clients are deepened, facilitating long-term success. 

Watch the conversation here.

Source: Social Samosa