'Running a Startup is One of the Most Simplest Things a Person Can Do' - Saket Modi, Lucideus
Focus shouldn’t be on it, instead it should be on solving a real problem in the best possible manner using all that’s available as resources, and most importantly, ensuring you are having fun solving the problem
Lucideus is an IT Risk Assessment and Digital Security Services provider. It’s a trusted standard for companies that need to protect their brands, businesses and dignity from debilitating cyber attacks. The company builds and delivers information security platforms and services, both generic and customized to pro actively secure, continuously monitor and reactively respond to cyber threats to your technology stack. Saket Modi, CEO of Lucideus was the BW Disrupt 40 Under 40 Achiever of the year.
In an interaction with BW Disrupt, Saket Modi shared his entrepreneurial journey.
Success mantra - Not to be too success focussed. If you are success focussed, there will be two scenarios — one, you will not achieve it (in this case, you feel bad you failed), and in the second case, you will achieve your defined parameter of success (in this case, you will set yourself the next success criteria). In both cases, you are in on an endless loop with only one possible outcome — failure at some point. I think, if you can eliminate success as a criteria from your equation and give your 100 per cent to working on your today’s scenario while having fun, you do not enter the loop in the first place. The driving force behind your journey - We have been having fun throughout our five years as a startup, and when you have fun at what you do, no force needs to drive you — you are on self-drive mode. Success then becomes a side result of all the fun you are having.
Business advice - Success and failure, fame and shame, acceptance and denial are like night and day — one cannot happen without the other following it. To be more accurate, they are both present all the time, the only difference is the proportion in which they are present. Once you know this, you don’t get disheartened from failure, neither you get too high headed when you succeed.
Tips for budding entrepreneurs - Making it big is a by-product. Focus shouldn’t be on it, instead it should be on solving a real problem in the best possible manner using all that’s available as resources, and most importantly, ensuring you are having fun solving the problem.
Government support - I think we are living in the most exciting times in the history of mankind, thanks to technology. And the government has the right intent. Considering the scale and size of our county (and its problems), the execution might be here and there at times, but I think there’s a lot being done for businesses to catalyse their way into a higher orbit.
The team - I think the recipe of building a successful startup is fairly simple; one, identify a genuine need in the society, and second, get a team that connects with the vision and can put its best towards cracking the problem. More than half your battle is won if you have the right team by your side.
Inspiration - I have learnt from a lot of people, but I don’t call anyone my idol. These people would include Masayoshi Son, Steve Jobs, Jeff Bezos, Warren Buffett and Elon Musk among others. Closer to home are my angel investors who have been my go-to mentors who I always reach out to, to get more clarity on my company’s day-to-day execution.