Neha Yaduvanshi, Founder of Vastada Consulting, is an MBA from ICFAI Business School, Gurgaon.
After working with the top management in the corporate world for seven years, she realized that companies are making strategies focused on short-term profit and immediate success.
Companies fail to recognize their true potential and capability to play a bigger role in the society. Neha believes an organization is a very important part of our world and has a bigger role to play in the life of human beings by delivering healthy products and quality services, as well as building a happy and protected environment for internal and external stakeholders.
With this belief and determination to transform the way companies make their strategies, she started Vastada Consulting. Today, she is dedicated to enabling senior executives to understand the bigger role of an organization.
Naaree interviewed Neha to ask her what make her choose to be an entrepreneur and what tips she has to offer other women.
What inspired to become an entrepreneur? Did you always love it or was it something you got into?
I always wanted to be an entrepreneur since my childhood.
After working with the top management in the corporate world for seven years, I realized that companies are making strategies focused on short-term profit and immediate success.
Companies fail to recognize their true potential and capability to play a bigger role in the society.
I believe an organization is a very important part of our world and has a bigger role to play in the life of human beings by delivering healthy products and quality services, as well as building a happy and protected environment for internal and external stakeholders.
And with this belief and determination to transform the way companies make their strategies, I started my Vastada Consulting.
When do you know that it is no longer just an idea in your mind, and that you can really turn it into a lucrative business?
The moment I started Vastada Consulting, I was sure of its success. There are very few consulting firms helping clients in building a sustainable business and Vastada Consulting aims to be a global leader in providing sustainable strategic solutions in 10 years.
What inspired you to start out on your own? What learning lessons can you share from your startup experience?
I was always passionate about starting something of my own, which can create value in the world, and I am proud that today, with our dedication and focus, we have created a good organization led by a woman entrepreneur.
My learnings are:
- Always prepare more than you have asked for to prove your value and knowledge and the results will be in your favor.
- Keep your entrepreneurial spirit high and do things differently.
- Always do the right thing. People don’t regret making choices, what they regret is not having made the right choice be it at work or in personal life. We at help our clients make the right choices that will help them achieve their dream idea into a sustainable, fast-growing business.
What are some challenges that you faced initially when you started out? Do you have some examples to share and advice to women entrepreneurs on overcoming them?
Being young and into consulting, our prospect said, “You are very young, how are going to help us in business growth”.
Then I would always come up with sustainable and innovative solutions that surprise them, and they would also refer us to other companies.
My advice for women entrepreneurs:
- Being a woman entrepreneur you must focus your energy on the right things and right people. Make genuine connections in both, your personal and professional life. Having the right people and a positive environment around you helps you to move forward and reach new heights.
- Ask for help and you will get it. Never get afraid in reaching people to learn new concepts and discuss new ideas.
- Being an Indian woman, you have to work hard in your family and business both because of our culture and family expectations. So, be honest with yourself and keep your priorities right for the business. Keep a healthy balance between your business, family and friends.
What are all the things that a woman entrepreneur needs to keep in mind? I.e. apart from your great idea, what do you need to be armed with?
Have confidence in your skills and capabilities. It is always hard to be a woman entrepreneur. Prioritize your tasks and overcome challenges. The best part about a woman entrepreneur is that she can see possibilities even in the toughest of situations.
The most important decision any woman who wants to be an entrepreneur or want to have a successful career makes is about marriage. Get married to a right person if you want to have a successful career or business.
The partner who believes in your dreams more than you, changes your life completely. He will act as a partner, friend and business advisor and you can share everything with him.
I am lucky to have a husband who believes in my dreams and always pushes me to do better in both, business and life.
Do women entrepreneurs find it tougher to get funding for businesses? If yes, why do you think that is?
Yes. But, gender biases could be real or perceived. If you are a woman entrepreneur and equip yourself with all the required information, analyze data to prove your point and have an innovative business model, then investors will listen to you and definitely they will invest also.
The most difficult part with woman entrepreneur is networking. They hesitate to develop their own network of people across different industries because of our culture and patriarchal mindset of males.
But fighting with all odds, now women should also develop their own network of people who can help them in finding the right investors. Some important plus points for woman entrepreneurs are business values, integrity, industry insights, and people skills.
Is it beneficial to have a mentor when you’re starting out on your own? What does a mentor bring to the table?
Anyone can be your mentor. Your ex-boss, your father, people from your network, a friend, anyone who knows your positives and negatives about your decision making process.
In business, it’s important to make sound decisions based on research, analysis and facts. So, having a mentor helps you in making rational decisions and gives you rights advice your emotions come into your business while making decisions.
A mentor with experience brings a fresh perspective and new direction to the table. So, having a right mentor is important for the growth f business.
My mentor is my first VP-HR (my first internship) Mr Subodh Bhatnagar, having 20 years of experience in the corporate world. He is a blessing in the business. I always take his advice before making new arrangements and decisions.
How did you recruit your first team? How difficult was it to get people on board during the initial stages?
As consulting is a very crucial field and a client’s future depends on the solutions provided by you. So, hiring the right team and getting them to invest their lot of time in extensive research and analysis was a big thing for me.
Now, all our team members understand the importance of research and analysis. My first team was from references and I am proud of my team.
What are 3 key things that you have learned as an entrepreneur?
As a woman entrepreneur, I learned the following things:
- Define your business smartly, develop it into a brand and everything you do should be consistent with your brand identity. You should become the face of your business.
- Get out of your comfort zone and learn new things to drive your business.
- Bring out the best in your team. The most important asset for any company is its employees. Invest your time and values to make a great team to build a great company.
What would you describe as your biggest moments of success in your business?
Vastada Consulting works on the core values of sustainability, co-existence, and trust. Every time we create value for our clients is our big moment of success.
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