Tata Sons Chairman N Chandrasekaran counsels startups to “Build a business model that shows   cash flows.”

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Business Today (BT) MindRush is an Indian business platform that is closely connected to the top thinkers in the world. It gives young CEOs and senior executives a platform to interact and connect with leading Indian thinkers, international management gurus, executive icons, and spiritual gurus. The MindRush platform allows future leaders to hone their leadership abilities, business strategies, and spiritual and emotional health, enabling them to lead the corporate India of the future in a happy and productive way.

N Chandrasekaran, popularly called Chandra in business and media circles, he first took charge of the Tata Sons’ chief in 2017. He was chief operating officer (COO) and executive director of Tata Consultancy Services (TCS), where in 2009, he became chief executive officer (CEO). He was also the chairman of Tata Motors and Tata Global Beverages (TGB). He became the first non-Parsi and professional executive to head the Tata Group. He has assumed the chair of B20 India and will lead the business agenda during India’s G20 presidency.

The chairman of Tata Sons, remarked during a talk at the BT Mindrush 2023 event that when businesses concentrate on producing strong cash flows, everything else will follow naturally.

Start-ups should concentrate on their cash flows, according to N Chandrasekaran, chairman of Tata Sons. He stated, “People will hit me, but people need to worry about cash flows,” on Wednesday at the BT Mindrush 2023 event in Mumbai. To demonstrate cash flows, they must create a company model. It will all happen on its own after that.

Indian startups are being scrutinised for a number of reasons. The ecosystem has been changing in certain ways, with a shift towards a greater emphasis on profitability and businesses being scrutinised for problems with corporate governance. 

Additionally, over the past few years, a number of venerable unicorn companies have launched initial public offerings (IPOs) on the stock market. However, the majority of them fell short of leaving a lasting impression. Chandrasekaran, though, is of the opinion that they are not to blame. In response to questions about whether these start-ups filed for an IPO too soon, he responded, “No, you cannot time the market. Never imply that it was a mistake. You should make mistakes when conducting business. You cannot make decisions if you don’t make mistakes.

The industry veteran also discussed how the salt-to-steel multinational is investing in the Indian consumer story with Tata Digital and particularly the Tata Neu app. “We are attempting to use our app in an omnichannel manner. We are not giving up on business, but we do have faith in the Indian consumer. In the upcoming 30 to 40 years, the Indian consumption narrative is expected to continue to grow and present a significant potential. If we pass up this chance while we’re sitting here, it will be a mistake. In April of last year, the Tata Neu app was released. It provides a wide range of services, such as grocery shopping, booking flights, renting cars, ordering takeaway, making investments, and booking hotels. The team has been trying to improve the app after it originally experienced bugs, according to Chandrasekaran. “When launching a product, the consumer experience is crucial. You can scale your business if you can connect with your clients. At first, there were some issues with the app’s functionality or performance. We took our time, and right before the IPL, we released the latest version of the software,” he said. 

He ended by implying that there are some exciting things linked to the app on the cards. “We will continue to develop, and we have a tone more categories to introduce.”

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