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"Best time to start business is at the downturn"
By Anuradha Ramamirtham | May 5, 2008
This Article:
Life at 38 is going great for Samantha Reddy, CEO and founder of B2BSoftech. "I've realized that life's not forever, so we should do what we want to - now!" says Samantha - a woman entrepreneur, a fighter, a leukemia survivor!

Although not hailing from an IT background, Samantha along with Ram Nemani, a cardiologist from the USA started an IT company -B2Bsoftech in 2000. Both of them invested approximately Rs. 5 crore each to set the business. "I met my business partner in the USA in 1995. He has been away from India for more than 3 decades and wanted to do something here. That's how he roped me in and we started on this venture purely with an idea of offering IT solutions," says Samantha.

The initial business model was to build portals. That's why they christened the company as B2B. But in 2000, because of the dot com bubble burst, the business - like many others - was affected.

"Within 6-8 months after we started our business, we'd to look for some other option and that's when we started getting into consulting. In 2002, we started offering ERP solutions typically to mid-size and large companies," says Samantha.

Samantha's family is in the business of manufacturing machine tools. When asked why she didn't join them she explains, "I'd a short stint in my family business too, but always wanting to create a niche for myself, I decided to start my own business."

She proudly says, "I was the first person from my family to get into IT. This is a self-made business."

Talking about the various challenges she faced in her business, she says the first challenge was that the IT industry itself was apparently spiraling downhill. Narrates Samantha, "The moment we decided on venturing into IT, people around were very discouraging about it. We'd a lot of devil's advocates around us saying IT will fail."

"One look at the market and you would realize that from 2000 to 2004 when it just moved up, it was a downhill battle all the way. IT industry had a huge set back with problems like the 9/11, Enron, WorldCom, and the Iraq war. So, it was like beginning of a downturn and the market finally took it up," adds Samantha.

But, never losing zeal and faith in herself, Samantha says, "No entrepreneur can time the market. So, you need to just start."

She explains, "The best time to start is at the down turn because then you will really refine the processes and be able to face any kind of challenge."

Secondly, according to Samantha, getting skilled manpower was a big challenge. This was because at that time there were a lot of people with H1 visa moving to the USA.

Samantha strongly believes that for starting any new venture you need a lot of passion, commitment, and lot of persistence. "We'd our bad years too. The first couple of years weren't profitable," reminisces Samantha. But, the stumbling blocks weren't firm enough to deter them from their goal. Eventually, they were able to build their own intellectual properties, build products, client database, and referential.

Samantha sees immense opportunity in the Indian market. When asked about what differences she observes now, she retorts, "I feel there's a huge contrast between the Indian market then and now. India as a market has really matured. Initially, they'd to educate companies on why they need ERP solutions, but now things have changed considerably."

A commerce graduate with a BS degree from Louisiana Technology University, Samantha was the vice president (Commercial) of Ravileela Granites, a manufacturing concern in Hyderabad, before starting her own venture.

Her life took a big turn when she was diagnosed with Chronic Milliod Leukemia in 1995. But, thankfully with an early diagnosis, she was treated at the Tata Memorial Hospital in Mumbai and later in the USA.

"This was one of the most defining moments in my life because I felt that I'd conquered fear," says Samantha. She believes that if you're an entrepreneur, you've to be very brave and optimistic. "Being a cancer survivor, I've become that."

Her family has been her support system and has backed her at all times. "When I started with my business, my daughter was 7 years old. Being a part of a joint family, it's easy for me to travel when I need to. This wouldn't have been possible if I'd a nuclear family."

Samantha says that being a woman entrepreneur feels great as people remember you when you attend meetings. She aspires to take the company to great heights and wants it to be the first choice for comprehensive business solutions in all the regions.

Related Links:
Dot-com bubble burst proved useful for us

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Your Comments
she is a wonderful person and a prudent business woman

- Manoj Windlass Windlass Biotec Dehradun


Feb 12, 2009 12:38 AM

Reply
Amazing & very inspiring

- gaurav techft mumbai


Nov 24, 2008 03:13 PM

Reply
Inspiring

- Rajeev Ranjan Indianetmb pune


Jun 03, 2008 02:20 PM

Reply
inspiring and motivating

- Rajeev Ranjan Indianetmb pune


Jun 03, 2008 02:17 PM

Reply
inspiring story keep me motivating

- Rajeev Ranjan Indianetmb pune


Jun 03, 2008 02:15 PM

Reply
ihave computer showroom and increase my business

- hemant morita marketin ahmedabad


May 12, 2008 03:24 PM

Reply
i am interested to join in my business to my son in low.

- hemant morita marketin ahmedabad


May 12, 2008 03:22 PM

Reply
She is a great Leader and an excellent motivator.

- Kiranmai B2B Software Te Hyderabad


May 06, 2008 11:37 AM

Reply


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