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Millionaire Mondays - Pallav Nadhani, FusionCharts
Manage episode 379292799 series 3377014
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00:00 Intro
01:50 From a Bedroom, to a Basement
05:53 Hiring in 2005: a Big Challenge
10:26 Building Culture, Organically
11:10 Running a Global Company in India
14:16 Being Profitable and Bootstrapped
16:16 Three Near-Death Experiences
22:40 Milestones and the Path Ahead
Pallav Nadhani founded FusionCharts at the age of 17 in an effort to earn himself some extra pocket money. He succeeded in doing so, and now, 17 years later, he has more pocket money than he knows what to do with. The data visualization company has over 28,000 customers as of December of 2019, some of which include Apple, Google, Facebook, Microsoft, Adobe, Walmart, NASA, and many, many more. In this video, Pallav explains how he built FusionCharts from his bedroom and turned it into a multi-million dollar company over the course of the last 17 years.
From a Bedroom, to a Basement: Pallav Nadhani was able to run FusionCharts for three years on his own before he realized that he needed help. He onboarded his first employee, a friend of his cousins, and together they worked out of Pallav's bedroom for about a year and a half. By the end of this period, they were working with over 1,000 customers, and couldn't handle to workload on their own anymore. They shifted into a basement office and started hiring more employees.
Hiring in 2005: a Big Challenge: Hiring wasn't a very easy thing to do for a startup in Calcutta in 2005. India's startup ecosystem was still in its infancy, and the startup ecosystem in Calcutta was nonexistent. Employees were hesitant to join the startup despite the fact that they were already working with a number of Fortune 500 companies. However, with time and experience, Pallav was able to assemble of solid team of engineers.
Building Culture, Organically: Even as FusionCharts was scaling up and the startup was onboarding more and more employees, Pallav really didn't know anything about building strong culture. Instead, he simply focused on instilling values like pride in the company, a strong work ethic, and the desire to learn and grow on the job. As a result of these values, FusionCharts was able to establish a strong culture organically.
Running a Global Company in India: Less than 1% of FusionCharts' customers are Indian. This is something that Pallav takes pride in, because going global from India was a pretty big challenge when FusionCharts was first starting out. In spite of this, FusionCharts has been able to build quality products that are good enough not only for India, but also for the world. What is more, they have done so as a bootstrapped, profitable company from day 1.
Being Profitable and Bootstrapped: Because FusionCharts has always been profitable and bootstrapped, they have very rarely struggled with money problems. In fact, the biggest money they have faced is a surplus of funds. The challenge for them has been to figure out what to do with these funds. Part of the reason that they are able to be profitable and bootstrapped is that FusionCharts is a very lean company: they have 68 employees serving 28,000 customers!
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