As part of Veraqor‘s leadership, Farrukh Nassim is responsible for overseeing finance and legal affairs, ensuring a smooth and compliant progression.
1. What are you building, and who benefits most from it?
At Veraqor, we are dedicated to developing meaningful technology solutions that positively impact businesses worldwide. Our focus is on providing efficient and reliable business solutions to startups, mid-market businesses, and enterprises. While we have come a long way, we still have a long journey ahead of us, and we are looking to lead the way by providing unparalleled IT and technology services to leading businesses around the globe.
2. Please describe one of your startup’s most impressive accomplishments.
One of our most impressive accomplishments has been our consistent delivery of exceptional service to our clients. We take pride in serving a select list of clients, the top-tier of the industry, ensuring unhindered progress for their technology projects, and delivering solutions to the best of our capacity that enable them to grow business in all dimensions. Our commitment to honesty, timely delivery, and excellence has allowed us to build long-lasting relationships and contribute meaningfully to our clients’ success. We own what we do, and that sets us apart.
3. What has been the biggest challenge so far, and how did you solve it?
Our biggest challenge has been navigating the rapidly evolving landscape of technology and ensuring that our solutions remain at the forefront of innovation, especially during and after the pandemic. Since we work with the top organizations worldwide, we must keep pace with them in order to meet their modern technology needs. To address this, we’ve invested in continuous learning and development, keeping our technical consultants and experts up to date with the latest advancements. Moreover, fostering a culture of innovation within our organization has been key to overcoming challenges and staying ahead in the ever-changing tech industry.
4. Besides your own product, what tool or app could you not live without and why?
One tool that has been indispensable for our team is collaborative project management software called Asana. It allows seamless communication, task tracking, and project coordination, ensuring that our teams across different locations can work cohesively and efficiently. Whether it is inter-team collaboration or intra-team cooperation, Asana makes it all easy for us.
In addition to Asana, our toolkit includes some essential tools that keep our operations running smoothly. MS Excel and PowerBI serve as powerful tools for data analysis and reporting, ensuring our financial insights are comprehensive and actionable. For accounting needs, we rely on QuickBooks, a robust platform that streamlines our financial management processes.
To keep a tight handle on expenses, we utilize Divvy, an efficient expense management tool that adds an extra layer of precision to our financial workflows. Together, these tools form a dynamic ensemble, empowering the team to navigate tasks, projects, and financial matters with utmost clarity and precision.
5. What marketing strategies have worked for you?
While being from the Finance and Legal side of things, I don’t generally indulge in marketing-related efforts. However, what I can certainly vouch for is our commitment to honesty and excellence, which has been a cornerstone of our marketing strategy. Word-of-mouth referrals from satisfied clients have been instrumental in expanding our client base. Furthermore, we run targeted digital marketing campaigns highlighting our successful projects and the positive impact of our solutions, which have proven effective in reaching potential clients.
6. Can you share any financial data, like the number of customers, revenue for this year, and/or the last amount of funding raised?
While I appreciate the interest in our financial data, we prefer to keep specific numbers confidential—we do not yet have a policy to publish such numbers. However, I can assure you that our financial performance reflects our dedication to delivering value to our clients and maintaining a sustainable and successful business. Also, we are a bootstrapped company and haven’t raised anything as of now.
7. What has been your biggest business failure to date? What did you learn from it?
Every business faces challenges and gets through difficult times, and while we may have encountered setbacks, I wouldn’t classify them as failures. Each obstacle has been an opportunity to learn and improve. As a growing organization, we have faced certain challenges or quick failures with various strategies, but then again, a lot has gone right for us as well. Our approach is to view challenges as stepping stones to growth, allowing us to refine our strategies and enhance our capabilities bit by bit.
8. What’s the best specific piece of advice you have for other entrepreneurs?
In my journey through the path of entrepreneurship and leading the business in the digital age, I’ve discovered one constant companion – change. Like a river, the technology landscape is in perpetual motion, carving new paths through the bedrock of business.
As an entrepreneur, your survival tool is nothing but adaptability. Welcome the swift currents of innovation and dive into the depths of continuous learning – these are your lifelines to success in these often-troubling waters.
But remember, this isn’t a solo expedition. Assemble a team that mirrors your commitment to authenticity, excellence, and customer obsession. Their shared compass will navigate you through the rapids of challenges and toward the horizon of your long-term ambitions. Stay supple, stay intrigued, and stay in tune with the rhythm of technology. Because in this grand scheme of entrepreneurship, change is your ever-present guide.
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