WHAT I LEARNT FROM MY COMPETITOR(27)
“Biggest Bank Balance does
not Guarantee Pole Position“
Anisha Singh, Founder and CEO, Mydala
CLAIM TO FAME: Began her
career on Capitol hill with the Clinton administration, launched her first
venture in the US to pro vide digital content to real estate firms in 2004;
started Mydala in 2009
THE LESSON: The biggest
learning from my rivals is that the biggest bank balance does not guarantee a
market leader position. We've had several com petitors who were more funded and
had more cash power behind them. There weren't many who believed that Mydala
would survive and our obituary was written several times. However, we knew we
were solving a real need that existed on the merchant front as there were few
ways for busi nesses to market themselves without upfront cash.
We have constantly
innovated to provide a great user experience. Not only are we still here after
six years, we are by far the largest. The best lesson we learnt is just because
there is someone with more cash in the bank cannot intimidate us. Our ability
to not give up and focus on solving the problem makes us the force that we are.
(As told to Rajiv Singh)
ETM27DEC15
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