Business Life
As a Young Entrepreneur, Penchal wanted to start his own Company so he didn't apply for any Campus Placements.Penchal entered in to Bangalore City with just 5000 INR and started Pen Consultancy.In the very 1st month Pen Consultancy earned 1,00,000 INR.He donated 50,000 INR to Mother Teresa Charitable Trust.Pen Consultancy placed many candidates in few MNC Companies.Penchal wants to start a Software Company but there is no Enough money in hand to take a step.He consultated all the banks but they didn't even respond for his loan request.Some banks didn't give permission to create bank account also.
Penchal use to attend every company interview and clears 1st 2rounds and gets HR contacts for Pen Consultancy.He is not interested to join as a Employee in any Company but he wants to start his company so use to attend every company interview just to get HR Contacts.Finally by the end of 2012, Penchal contacted almost many companies in India.He use to give walk-in and Interview updates to job seekers just for 100 INR and places them in IT Companies.
Pen Consultancy gave lot of Profit but penchal have so many IT Projects in hand so he wants to start Software Company with Pen Groups name.He wants to spread his brand name all over the world so he started Conducting Campuses to grow his brand with 500 Employees.Finally by the end of september 2012,Pen Groups name spread all over the India and Penchal got 1500 Employees in hand but he was a need of 500 Employees only so he filtered 452 Employees from 1500 —"The one who knows how to Increase Manpower should know how to reduce also"
Entrepreneur Penchal founded the world's largest software business, Pen Groups with young team and subsequently became one of the richest men in the world. He personally reviewed every line of code the company shipped, often rewriting code when he saw it necessary. As the IT industry began to grow, Penchal was continuously out on the road touting the merits of Pen software applications. Penchal acumen for not only software development but also business operations put him in the position of leading the company and working as its spokesperson. His intelligence allowed him to be able to see all sides of the software industry—product development and corporate strategy. When analyzing any corporate move, he would develop a profile of all the possible cases and run through them, asking questions about anything that could possibly happen. His confrontational management style became legend as he would challenge employees and their ideas to keep the creative process going. He never felt totally secure about the status of his company. Always having to look over his shoulder to see where the competition was, he developed a white hot drive and competitive spirit. He was constantly testing the people around him to see if they were really convinced of their ideas. Penchal expected everyone in the company to have the same drive and dedication. Outside the company, Penchal was gaining a reputation as a ruthless competitor.
On 1st Oct 2013, Penchal started Pen Groups Bangalore — World Trade Centre Branch with 12 Employees then on 14th Oct 2013, he started Pen Groups Pune branch with 120 Employees and then on 29th Oct 2013, he started Pen Groups Chennai — Millenia Business Parkbranch with 65 Employees.Penchal wants to make Pen Groups as MNC so on 23rd Nov 2013, he Started Pen Groups Jakarta — Ciputra Worldbranch, Indonasia then on 25th Nov 2013, he Started Pen Groups Tokyo office at — Shinjuku Park Tower and then on 5th Dec 2013, he started Pen Groups Singapore branch at — UOB Plaza.On 24th Nov 2013,Pen Groups Pune Branch office closed and he moved all 133 Employees to Pen Groups Jakarta — Ciputra World branch, Indonasia. On 29th Nov 2013, Pen Groups Chennai Branch office Closed and he moved all 162 Employees to Pen Groups Tokyo — Shinjuku Park Tower branch, Japan.On 9th Dec 2013, Pen Groups Bangalore — World Trade Centre Branch closed.Currently Pen Groups operating with 4 branches in London,Singapore,Tokyo and jakarta with 1000+ Employees.
Penchal believes that the key ingredients for building a great business are a kickass idea, strong team, solid execution and money.He doesn’t build his team with people bought out from the market. Pen team members are committed to the vision of the company; not to the salary. Pen team members are empowered and passionate.Penchal-CEO of Pen Groups build a culture of safety – a culture where failures are treated as a collective failure of the Pen team and not an individual. He believes that this kind of a culture will ensure that the middle management does not become risk averse and mediocrity doesn’t seep into the mindset.Penchal also created a sense of transparency, wherein all the team members are on the same page. This would ensure that all the team members are aware of their vulnerabilities and weak points.
Penchal has a very different perspective on Minimum Viable Product. According to him, a Minimum Viable Product is playing with the complex equation that are startups by tweaking a single variable at a time and keeping the others unchanged.This approach works because the startup will be able to validate its products even before it writes a single line of code.
Penchal's 1st Speech:
"I’ve heard so many reasons for failure; my parents, my boss, my spouse, other employees, education or lack of, genetics or just bad luck. When I hear these they are always missing one component and that’s “ME”. There is no one to blame but yourself. Personal responsibility is the number one factor in holding oneself back from success.When you allow yourself to blame these uncontrollable forces for your lack of success you will forever be caught in the web of the past. You must look forward. History cannot control your destiny.Only you are responsible for your past and only you are responsible for your success. You are where you are at today – mentally, physically, spiritually, financially and emotionally because of decisions you have made. You are there because of the way you think. You begin changing by the way you think. Your thoughts have to be constructive not destructive. You have to live in the solutions of the future. You cannot dwell in the problems of the past.Another key component is those you associate yourself with. They must be positive thinkers who are result oriented and believe success is theirs to create. You must make decisions. You don’t have to make the right decisions all the time just make a decision then make it right if need be. Inaction is a death nail to any ones success. Don’t waste time on second thoughts. Stand firm and avoid letting your own changing emotions deter you from your course.In times of adversity don’t make it a problem to deal with make it a choice. Adversity is preparation for greatness. You must accept this adversity as an opportunity to learn. The greatest triumphs come from failure. Don’t ever ask “why me?” ask “Why not me”.By accepting responsibility for your past, controlling your emotions and looking forward you and only you will be responsible for your success.If i Fail then i Try again and again and again, If you fail then will you try again?"
Penchal-CEO of Pen Groups
Pen Groups Bangalore — World Trade Centre Branch
Pen Groups Singapore — UOB Plaza Branch
Pen Groups Jakarta — Ciputra World branch
Pen Groups
London — 90 Long Acer branch
Pen Groups Tokyo — Shinjuku Park Tower branch
He spends most of his time on strategy, supervising performance and risks, dealing with building the strength of Team
Strategy — thinking, researching, consulting, defining and communicating the future for the company. The structures he used for this were unremarkable — where to compete, how to compete and what strengths to develop (particularly people and culture) — because he felt team effectiveness in implementing all that stuff was much more important than any particular framework or methodology.
Supervising performance and risks—normal and regular business reviews, major project reviews and dealing with the inevitable crises and unexpected events. Over time, this proportion fell, because after 6 months or so he had established a wonderful team of people who did this stuff very well.
Dealing with building the strength of Team —evangelizing (and hopefully personally demonstrating) Pen culture, recruiting, taking the temperature of the mood of the people, consulting with HR Director (my closest executive team member), succession planning, presenting to groups at every level on development programmers, and thinking and researching what made people in Pen business effective and successful (most important conclusion; be clear what you expect of people, equip them, and then bugger off out of their way - very important message for policy loving central functions). This time proportion grew, justifiably.
The remaining time in dealing with important stakeholders - mainly shareholders, but also government, key suppliers etc - and non-productive guff . Clearly, any person at work wants to avoid time wasters, but Penchal is probably afflicted by more than most by people who want to come and sell their latest idea, from investment bankers to industry lobbying groups.
He always aims to have a clear desk - seriously. He feels that he is the only person in the organization with the heavy responsibility to ensure the long term survival of the enterprise. He never thinks about that with a full email inbox and a desk covered with papers. He was obsessive about clearing his inbox to zero each night, mainly by ignoring or giving one word answers to people who were seeking cover (people learn and it stops after a while). As CEO, he responds instantaneously and makes his team to get on and doing things instantaneously.
He always use to say “If you do your job properly you will work every waking hour, and need to be disciplined about keeping your body and mind healthy”
He is Simple, nice and always Smile. He is very, very accessible and Wanders around purposefully. He will pick up what's really going on, what people are really worried about, and then he will add value to the decisions of his team are grappling with. He shows people that the front line is the most important, not the head offices or support centres or whatever name you give them.
When people in Pen Groups complain about something or other being broken such as the expense reporting process, he would joke that it was all his fault. The joke was funny, because it wasn’t really a joke. He feels that every problem in the company was indeed him fault. As the founding CEO, every hire and every decision that the company ever made happened under his direction. Unlike a hired gun that comes in and blames all of the problems on the prior regime, there was literally nobody for him to blame.