In a recent interview with Fortune India, Harsh Mariwala, the Chairman of Marico, shared his insights on the challenges of scaling up a startup. Mariwala, who has successfully grown Marico from a small company to a ₹10,000 crore conglomerate, emphasized that what works at a smaller scale often doesn’t work at a larger scale. He revealed that the key to scaling up a startup lies in adapting to changing circumstances and being open to learning and experimentation.
Mariwala stated that when Marico was a ₹100 crore company, the organization was relatively simple, and decision-making was straightforward. However, as the company grew to ₹1000 crore, the complexities increased, and the organization had to become more structured and process-oriented. He noted that the company had to change its management systems, talent acquisition strategies, and innovation processes to accommodate the growing scale.
The Marico Chairman highlighted the importance of having a clear vision and strategy for scaling up. He emphasized that startups should focus on building a strong foundation, including a robust organizational structure, a talented team, and a culture that encourages innovation and experimentation. Mariwala also stressed the need for startups to be agile and adaptable, as the ability to pivot quickly in response to changing market conditions is crucial for success.
Mariwala shared that Marico’s success can be attributed to its ability to innovate and stay ahead of the curve. The company has been able to successfully launch new products and brands, such as Saffola and Set Wet, which have become household names in India. He noted that innovation is not just about product development but also about process innovation, supply chain optimization, and customer experience.
The Marico Chairman also emphasized the importance of talent acquisition and development in scaling up a startup. He stated that as companies grow, they need to attract and retain top talent to drive growth and innovation. Mariwala noted that Marico has been able to build a strong leadership team, which has been instrumental in driving the company’s growth.
In conclusion, Harsh Mariwala’s insights offer valuable lessons for startups looking to scale up. He emphasizes the need for adaptability, innovation, and a strong foundation, including a talented team and a clear vision. By following these principles, startups can successfully navigate the challenges of growth and achieve long-term success. Mariwala’s experience at Marico serves as a testament to the effectiveness of these strategies, and his insights are likely to inspire and guide entrepreneurs and business leaders looking to take their startups to the next level.