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Aiming To Be A Billion Dollar Enterprise

Monday, March 21, 2016

Enterpreneurship
Hamid Farooqui, CEO, SogoSurvey

A perfectionist, visionary, with a positive attitude and a proficient mentor is what describes Hamid Farooqui best with the expertise in the IT Industry. As a founder and CEO of SogoSurvey, Hamid Farooqui is responsible for overseeing the functioning of the company in strategic decisions and innovative initiatives for new business opportunities. He successfully launched his startup venture in the year 2013 with the vision to create a remarkable difference in the field of Information Technology.

With a Masters Degree in Computer Science pursued from the State University of New York at Binghamton, Hamid is the technical and innovative genius behind the Company’s outstanding reputation for highly user-friendly online survey software at a super-lower cost. Hamid did his under-graduation in bachelors of Engineering in production from Mumbai. He is married and a proud father of three children.

Hamid Farooqui believes that perseverance is the key to success. According to him, if a person is willing to do something and stay firm till the course will be successful no matter what. He is fond of reading books and highly admires the book – The power of Positive Thinking by Norman Vincent Peale. Inspired by the roles and responsibilities of Bill Gates, Farooqui sets a new benchmark for all the aspirants who aim to open a startup and be an entrepreneur. Farooqui mentors young children and students finishing college in order to groom them to work in this world. He talks about his motivation to work, In conversation with Dominic Rebello, he says “People motivate me. My co-workers and their hard work motivates me. My desire to solve complex problem motivates me. My frustration with broken systems in Mumbai motivates me”.

What drives you?
If you think it is money, than that is farthest from truth. Money does not drive me at all. What drives me is the feeling of self-worth, to make awesome products and provide great service to our customers. What drives me is to have a company where every employee is passionate about what they do and enjoy the work they do. Thrill of competition, the happiness that comes from creating something new, the fun derived from building a team and the roller coaster ride of being an entrepreneur drives me.

How big is the potential for a business like yours? Any major customers that you now cater to? What kind of numbers do you expect from a business like yours? Any statistics to compare with international standards?
SoGoSurvey is a US company with an office here in Mumbai, India. SoGoSurvey is in the business of Feedback Systems - the simplest tool being a Survey Tool. SoGoSurvey is helping our customers with Employee Engagement Survey, Customer Satisfaction Survey, Event Surveys and Healthcare Surveys to name a few. The potential for business is enormous - in billions of dollars per year. Currently we cater to a lot of fortune 500 as well as top colleges in the US. Just to name a few, EBay, Citibank, UNICEF, Marriott, IBM, HP, FedEx etc. are already our customers. Given our trajectory of growth, the quality of the product and services we are offering and the potential for business in our industry, we are aiming to be a billion dollar enterprise in next 4-5 years’ time.

How do you plan to scale up; raise funds through seed or venture capital or simply grow the old fashioned way through rising turnovers?
We are generating enough revenue at this time to be able to fuel our growth. We do not need outside funding to execute on our current business plan. Having said that, if we need to raise VC money in future, we will ensure that we partner with a firm that will bring experience and expertise along with the money.

Who would primarily be your consumer audience?
Our customers are very diverse - from a student in a college to large fortune 500 companies. We offer a Basic package for free to everyone who needs a survey tool for basic work. For students and non-profits we offer free upgrade to a paid package. Today we have a very large user base in 75 different countries including a large number from India.

Where do you see yourself five years down the road?
If we execute on our plans successfully and meet our milestones, we would be a billion dollar enterprise in next 5 years. SoGoSurvey would be a highly recognized brand in the world and we would be one of best places to work not only in the US and India but in many other countries.

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