Discover the winning strategies used by top CXOs to drive growth in their companies, even in the toughest of times!
In this Episode, Cantaloupe CTO, Gaurav Singal shares the lessons he learned during Covid and the best practice to continue post-covid. Gaurav also provides invaluable insights into company culture, the impact of covid on innovation, and company cost optimization.
1:35 - We had people work remotely as well as run the business virtually, and it scaled. I think crises and sudden turns push people into a mode where they are forced to make decisions and operate in an emergency kind of situation. So, in a case, such a situation happens again, we can navigate ourselves through another crisis, which I'm sure will bring different challenges, but at least there is some sort of a way for us to navigate in such an unpredictable event.
4:01 - When people are co-located, when they're at the same location coming to the offices, typically the company culture thrives. Especially today, we all realize that remote work is going to be part of our life. It's gonna be a healthy mix between remote and being in the office.
Trusting your team is essential, pushing the decision-making to every person on your team makes them feel empowered. I think this is very important.
5:24 - We are very big on agile and as we rapidly shift into being remote, there's a healthy collaboration that is built in agile structures. Now since we are doing a hybrid environment, any new projects, anything new we are doing design perspective. We are encouraging people to be in person so they can actually collaborate and do the design work together.
We have to develop that connective tissue with our employees to ensure they feel empowered to work remotely or in the office.
6:42 - We started relying a lot on digitization after the onset of the pandemic. We also invested in touchless technology like credit cards. By digitizing a lot of our processes and we are constantly taking costs out of our processes.
8:21 - Two types of costs are in any company. One is a bad cost and one is a good cost.
Bad costs are cost that does not align with the overall strategy of your organization. You as a leader should always be looking at how you can cut the bad cost from the equation and the company so that the company is operationally efficient which impacts your bottom line.
And then good costs are the costs that are aligned with your business strategy. You always want to invest your limited resources and money where you could make the maximum impact.
10:37 - One quick piece of advice is when you're an executive you are always running against time. So, you've gotta maximize what you can do for the company in the limited time. Secondly, you must have a great understanding of what the work is. I work crazy hours but I don't even feel like I worked a single hour because I like what I do.