Vinit Ketan and Suman Singh – Co Founder, Market Research Future – India’s Transformational Leaders 2019
Two dynamic individuals Vinit Ketan, Co Founder and Managing Director and Suman Singh, Co Founder and CEO of Market Research Future are transforming the way research is done in new India. Their vision and dynamic approach set them apart. Their innovative methods make a huge difference.
Years of working in the industry, your contribution reflects versatility and volubility. What has influenced your decision making process at various stages?
Patience towards results, inclusion of right team, and quick implementation of strategies have been the key influencing factors in our decision-making processes.
A project or an accomplishment that you consider to be the most significant in your career?
We believe that building this company which has such a vibrant culture and lively atmosphere itself is an accomplishment in my view. We are also happy to be recognized as an equal opportunity provider by institutes and academic organizations.
How do you integrate corporate philanthropy or corporate social responsibility as a part of your business strategies?
Responsibility towards employees and customers are the most significant areas for our line of business. However, we do engage in providing collaborative services to industry journalists, magazine editors, scientists, and academic researchers as our contribution to our social responsibilities.
What has been your driving force or philosophy in life?
We believe that it is important for everyone to contribute into betterment of the society. The beginning of our entrepreneurial journey itself sparked on the idea that we could build a way for employment generation.
What are the other philanthropic works you are involved in?
Currently we are pursuing different ways to add value and give back to the society. We have been working diligently to achieve our primary goal of employment generation. However, in more recent times we have also participated in local charitable organizations, non-profits, and non–governmental organizations as another way to add into the society.
How do you define success and how do you measure up to your own definition?
We believe our measure of success truly lies in the happiness quotient of our employees, and the efforts we undertake to achieve it. We also believe that creating value in the society and finding different ways to give back is also an equally important metric to gauge one’s success. We already have undertaken steady steps towards achieving the same and have been constantly pursuing different ways to ensure it becomes a part of our corporate culture rather than a responsibility.
We are constantly making things better, faster, smarter or less expensive. In other words, we strive to do more with less. Talk about a recent project or solution to a problem that you have made better, faster, smarter or less expensive?
There is recent project that we have undertaken which might be an apt example here. The complexity in solving our client’s objectives have increased significantly over the years. In order to leverage the vast amount of experience available in the industry to help us better serve our clients, we have started a partnership program. This initiative will not only help in rapid expansion of our capabilities, but also help industry veterans monetize their years of knowledge.
In your opinion what is the most significant aspect of leadership?
Perseverance is what I believe to be the most significant aspect of leadership. Every leader must inspire the next level of leaders which can only happen if there is an unwavering passion to achieve goals within him/her. A leader must also accept, understand, and rise from failures for it provides a great deal of learning which draws them near to their success.
Your perception of an empowered society. How far your industry has/can contribute for the same?
An empowered society, in our opinion, is the one wherein there is credible information flow. We believe that in this time of information explosion, where there is a huge influx of unverified and untrustworthy information noise, providing unbiased and reliable information would be a useful contribution to the society. We believe we have always been working towards the same intention and always strive to provide accurate data to the industry and our clients.
One thing you wish to change and one thing you wish to retain about your industry?
I wish to change the way market research reports are consumed by the clients. We would like to move away from the traditional ways of providing market intelligence and have already started building our steps towards this goal. I don’t think we would want to retain anything in this industry. We always welcome change which would help the industry move towards better processes and services.
One thing you have to let go off as an entrepreneur/leader?
Wouldn’t say that it must be let go, but yes personal time takes a hit at the initial stages of entrepreneurship journey. Ample time has to be devoted towards building the basic blocks of your business, which does come at some personal cost.
Whom do you owe your success to?
Our parents who have been quiet patient and encouraging about our entrepreneurial aspirations. Our team, who have constantly advised us about the right things and stood by us through thick and thin with the same zeal they had when they had joined.
Best thing about your job?
We can create a difference in the society via employment generation and value addition. We also can provide inspiration to other aspirants who would want to take the entrepreneurial journey.
A message from you to all the future entrepreneurs/leaders?
Perseverance is the key to everything. Diligent efforts and unwavering passion for our goals is what makes a successful entrepreneur. Always try to work towards betterment of the society and give something back to it. Finally, learn to accept and understand failure.