An entrepreneur in consulting for operational strategy and business transformation since 2013, Vineet Trakroo is a specialist in re-engineering and scaling up B2C organizations. He provides consulting to midsize and large organizations on business transformation, marketing and sales strategy and creating new businesses to deliver results. Some of the leading companies consulted by Vineet Trakroo are Tata Motors, Titan, Pepsi, Mahindra, Saint Gobain, Abbott, Pfizer, Camlin, Parry’s, Faber Castell, and many more.
Below are highlights of the interview conducted between world’s Leaders and Vineet Trakroo:
Describe who you are as a person, inside and outside of the workplace.
Born to an engineer and a doctor as parents, I obviously had only two choices for a career. The choice I made was engineering over medicine because it was easier. That’s where the journey started. However, it quickly shifted away to marketing, which was a subject close to my heart. Marketing was mostly associated with advertising, but my preference was always product management, strategy, and data analytics. This led to me managing over 45 brands in 23 years for some of the leading corporations, including Usha International, CavinKare, Pidilite, Beiersdorf, Voltas, and ABB. I have been marketing power projects for edible oil, soaps, condoms, shampoos, first aid dressings, hair dye, DEOs, perfumes, adhesives, toasters, blenders, and more as CMO, VP, and Head Sales & Marketing, managing the Indian subcontinent and a few international markets.
As the breadth of products increased along with the increasing geography, it became a constant endeavor to learn about new businesses and products quickly. I always looked for patterns of similarity between different businesses to learn quicker. My working style has been characterized by analytical thinking and the division of difficult tasks into manageable components. No challenge is big enough to solve; yes, it can be tough and take more time, but it cannot be impossible.
As a person, I would consider myself an introvert who is not fond of large gatherings and prefers not to be in the limelight. I am focused on what I do and seldom multitask. On the weekends, one wouldn’t find me anywhere but at home. Because the role was stressful, one would need to unwind in peace over the weekend. I like to travel, enjoy good food, practice yoga, and watch movies to relax.
Describe your background and what did you do before you started/joined the company?
For 23 years, Vineet has worked in the consumer industry at different organizations as head of sales or marketing and finally exited corporate in 2013 as CMO and head of strategy. He has worked with Cavinkare, Pidilite, and Usha International as Head Marketing, and at Beiersdorf and Postman Oils as Head Sales and Marketing. Earlier years were spent in the electrical engineering industry with Voltas and ABB in EPC project management. Marketing, sales, joint ventures, creating innovative products, and either entering a new business or revitalizing one have been my forays into the corporate world prior to this startup.
In 2013, I started this company with a desire to cross pollinate growth ideas across industries and businesses.
Tell us about the inception of the company. How did it all start?
Throughout my career, I have led many brands to significant growth in less than a year. This led me to believe that growth is locked within the organization. It is not competitors who limit a brand’s or product’s growth, but rather internal factors such as our assumptions, blind spots, and ability to think outside the box.
Companies have moved from quarter to quarter results since 2010, with less time for long-term planning. The startup and VC cultures also desired quick results while the products were getting commoditized. There had to be a new way to grow and identify the internal blocks. Over the years, we have created and perfected a new way to unlock growth. Growth that is driven by better ideas and better execution, and a business that is run on data and insights with strong monitoring. With the increased availability of data, it has become easier to drive and course correct the business today than it was 10 years ago. The question is are corporates aware hot to unlock this.
What has made you successful? What do you value?
The one quality that has given me success is the clear communication of what is desired and why. We believe the average person can deliver exceptional results if we can explain to him why and how it will help him or her. Most people want to grow and learn. Creating an environment that challenges them and gets them to team up with colleagues to come up with solutions is what drives success. One success is enough to drive three more projects, and that’s how success becomes an attitude. Of course, failure does happen, but like an entrepreneur, one should look at what to correct to turn the failure into a success rather than throw the baby out with the bathwater.
What are the most important aspects of a company’s culture? What principles do you believe in and how do you build this culture?
We have a very senior team that has spent over 25–35 years in the industry, and each has been a CXO or CEO with personal experience of turning around companies or growing them. They are self-motivated, and what drives them most is a new challenge. As we work across industries, it can be challenging at times to cross pollinate ideas from one industry to another. The task of implementation is tough as companies have different cultures, which requires maturity on the part of the consultant. They have seen many ups and downs in their years of experience, so even recessionary or COVID challenges don’t affect them.
What is the significance of innovative ideas in the company?
Innovation leads to success and sometimes disruption if it starts happening regularly. There has to be part of the business innovating and some part excelling in delivery. Product innovation or logistical/supply chain innovation, once decided, needs a system for implementation and realizing quicker success. Innovation doesn’t happen everywhere and is rare. Good processes and systems can also help you deliver a greater customer experience. They are both two sides of the same coin.
Give us your opinion on; do organizations rely heavily on individual heroics or team processes?
Heroics may give direction and a vision, but you need people to execute it. It is not difficult to imagine versus the ability to execute.Processes are required eventually when you have mastered the key to getting results. However, no process is permanent, as all products and services have a finite life. As consumer demand increases, one must evolve; this cannot occur in the same process unless we incorporate innovation into our processes and delivery.
What are your responsibilities as the Founder/CEO of the company? What is the happiest part of your daily routine?
As the founder and CEO, I am responsible for all the functions and the smooth running of the company. But the most important role which I play is business development and managing client relationships. Working on client business challenges that appear difficult to solve and interacting with clients are the most enjoyable parts of the day.
What advice would you give someone going into a leadership position for the first time?
When one enters the role of a leader, it’s a responsibility, as you are responsible for the success of your team. Thus, it’s important that one builds bridges with all team members and understands their strengths and capabilities so they can deliver and prosper. A leader is only as strong as his team. An open culture that is open to critique helps identify issues and solutions, but once decisions are made, there has to be clear responsibility for delivery. There is no better support for decision-making than data.
