In an interview with TechGraph, Suresh Mansharamani, Co-Founder of Tajurba & Angel Investor, discussed Tajurba’s mentorship program’s transformative impact on SMEs and how it covers the key aspects of business for SMEs and MSMEs, including sales growth, pricing strategies, cash flow management, and profit maximization.
Read the complete interview:
TechGraph: Can you tell us about Tajurba’s mentorship program for SMEs and how it has evolved over time?
Suresh Mansharamani: Tajurba’s mentorship program for SMEs has evolved significantly over time. The program offers personalized one-to-one mentoring to support small and medium-sized enterprises. Initially, the program focused on general business guidance and mentorship.
However, over time, Tajurba has refined and expanded its offerings. The program now covers various aspects of business, including sales growth, pricing strategies, cash flow management, and profit optimization.
Tajurba has also assembled a team of experienced mentors specializing in different areas of expertise to provide tailored guidance to SMEs. This evolution has enabled the program to deliver more comprehensive and effective support to SMEs in their growth journey.
TechGraph: What qualities do Tajurba look for in a mentor, and how do you match them with SMEs in your program?
Suresh Mansharamani: Tajurba looks for several qualities in mentors for their program. First and foremost, mentors should have extensive experience (Tajurba) and knowledge of their respective fields of expertise. They should have a track record of business success and possess strong communication and interpersonal skills.
Additionally, mentors should be empathetic, patient, and able to provide guidance and support tailored to SMEs’ specific needs. Tajurba matches mentors with SMEs based on the industry, challenges, and goals of the SMEs. This matching process ensures that SMEs receive mentorship from individuals who possess the relevant skills and experience (Tajurba) to address their specific needs.
TechGraph: What specific challenges do SMEs face, and how does your program address them?
Suresh Mansharamani: SMEs face numerous challenges on their path to success. One common challenge is the difficulty of scaling up beyond a certain revenue threshold. Tajurba’s mentorship program addresses this by providing guidance and strategies to help SMEs scale up their businesses effectively. Another challenge is achieving higher profitability than industry averages.
Tajurba’s program focuses on optimizing cash flows and implementing strategies to achieve 3 to 5 times more profit than the industry average. Additionally, hiring and building a strong team is a challenge for SMEs. Tajurba’s mentors provide guidance on team building and human resource management to help SMEs attract and retain top talent.
TechGraph: Can you provide any success stories or case studies of SMEs that have participated in Tajurba’s mentorship program?
Suresh Mansharamani: One success story from Tajurba’s mentorship program is Suraj Bode, founder of OPUS Innovation in Goa. Suraj’s business was severely impacted by the COVID-19 pandemic, but after joining Tajurba’s mentorship program, he achieved his entire previous year’s turnover in just 90 days.
Currently, his business has experienced significant growth, with offices in multiple cities and a team of over 100 people. Another success story is Vikram Bansal, founder of Nirvay Solution in Delhi. After joining Tajurba’s mentorship program, Vikram’s yearly revenue increased from 4 crores to 12 crores within 2 years. These success stories highlight the transformative impact of Tajurba’s mentorship program on SMEs.
TechGraph: How do you measure the success of Tajurba’s mentorship program for SMEs, and what metrics do you use to track progress?
Suresh Mansharamani: We measure the success of its mentorship program through the Objective Key Results (OKR) system. This system involves setting clear objectives and tracking key results weekly over 90-day periods. The OKR system enables SMEs to establish measurable goals and track their progress consistently.
Metrics such as revenue growth, profitability, team expansion, business milestones, customer satisfaction, and market penetration are used to assess the effectiveness of the program.
By closely monitoring these metrics, Tajurba ensures that SMEs can measure their progress, identify areas for improvement, and make necessary adjustments to achieve their desired outcomes. This data-driven approach allows both Tajurba and the SMEs to evaluate the success and impact of the mentorship program accurately.