Tanuj Shori, as the Founder and CEO of Square Yards, is often asked one question that is– what is the exit strategy? Tanuj Shori in an article for CNBC TV18 states that he believes in building a business that leaves behind a Legacy and transcends time. He believes that what a person creates today is the only thing that outlives him or her. Tanuj Shori says that an entrepreneur and team should create a legacy for the next generation. Square Yards had begun its journey with that very same thought. In this article, Tanuj Shori shares the journey and its important lessons that have made Square Yards what it is today.
Until executed ideas are worth nothing
In 2014, Square Yards began its journey with just a few people who were focused to provide hassle-free and dependable home owning experience for the common people. It wasn’t a new idea and the founders of Square Yards neither had any experience in real estate. With the faith and importance of execution, the team worked to recognise the gaps. The mistakes that occurred taught the team invaluable lessons and made the execution sharper.
To achieve scale institutionalizing processes is important
Scaling up was a way of life for square yards and the company kept on increasing the manpower and revenues twice every year. The company that started with 3 people is now an organisation of 2800 employees across 10 countries and with 1 billion dollars annual gross transaction value. Square Yards is committed to growth and once the good management skill sets and collaborations were built the company started acting on standardizing the processes. Flexibility is the greatest enemy of growth when it comes to processes and that is what Tanuj Shori believes firmly. When an entrepreneur wants the start-up to scale up they have to standardise and repeat processes in the brokerage real estate distribution industry. There were no solutions available to the right people. They were brought together and technology was built from scratch. After tech was deployed there were two results– one, operating costs were reduced and firm nonlinear growth path was laid down. And 2, tech-enabled value innovation was offered to the consumer, a fragmented industry was distracted and a new scalable and profitable business model was created in the same space where many businesses had failed previously.
It depends upon the people of the organisation
Every organisation needs to build great relationships with the people involved. For Square Yards one of the most important components of effective leadership is people management. The key focus has always been on building the right kind of ownership driven talent. Square Yards’ the concept of principal partners has to be successful. Now there is a team of 25 principle partners and mini CEO of their own vertical working with them. In sales, the concept of P&L accountant has been adopted. Every P&L head is accountable for the profit and losses of their respective units. This model is very successful in driving strategies and objectives in every part of the organisation.
Square Yards is a technology-enabled, global real estate aggregator and India’s largest player for primary residential real estate. It’s subsidiary Square Capital is one of the largest marketplace for secured mortgages in India. Square Yards platform offers an integrated consumer experience & covers the full real-estate journey from search, discovery to research, transactions, home loans and post-sales service – fully integrating buyers to an extensive network of 500+ partner real estate developers, and 90+ banks & NBFCs. Square Yards is led by accomplished professionals, ex-bankers, and Ivy school alumni and is backed by the competence of more than 2500 employees in 30 cities and ten countries.