Vazirsingh’s Weblog

When the dotcom bubble burst it had several unfortunate consequences for people who had invested their careers in the newage companies. I started working in brick and mortar IT companies as a sales person from 1992. Marketing executive, Marketing Manager,Area Sales Manager,Sales Manager of reseller companies, Value added resellers,System Integrators finally to the distributor companies, I had seen it all over a period of 8 years. Then I took a chance and accepted a position in Cyberitmall.com as Business Development Manager in 2000. Cyberitmall was a division of Orient Information Technologies Ltd.which was established on the back of its outsourcing business. It had offices across the globe with clientele from the middle east,US and the far east.It was listed on BSE and had influential board members like Ketan Parekh. The MD and main investor is Ketan Sheth.

Cyberitmall was formed with the objective of creating an alternative ecommerce channel for IT requirements catering to B2B and B2C markets. Its business was to create a valuation and become an attractive takeover/acquisition target thus benefiting all the stakeholders. The project as it was known by Orient was headed by Trupti Sheth the general manager.

After the dotcom bubble burst in India with UTI and Ketan Parekh coming under a cloud the whole reason for its existence was challenged. Orient had no interest in a brick and mortar like operation and this had an impact on its employees.However the young and energetic team rallied around Trupti and was keen on making afight of it.

However the operation was leaking expenses, and Ketan Sheth had to take hard decisions. One day he called us and pulled the plug as humanely as possible. He offered a generous settlement, or an opportunity to get inducted in the parent company.I was disillusioned and decided to call it a day. Before taking this decision, I felt the need to communicate to Trupti informally,as I enjoyed a close working relationship with her.These words were penned before dawn, and they drained me and strengthened my resolve at the same time. I am not in regular contact with Trupti, but her 1 year association is very precious. I reproduce my email below.

Hi Trupti,

I know that these may be difficult times for you. I’ve always admired the way you have put 200% for anything you took up. There are a few professionals I know who measure upto your standards, as far as commitment goes. This even your detractors will have to concede. So if this decision has to happen after your tremendous efforts then it is definitely not because for want of trying on your part.

I’ve always taken a lot of pride in handling challenges, taking on tasks which people doubt the success. I see myself as problem solver & have respect for my abilities & I will give it my best try. I also know that I need not worry on who gets credit as long as there is success. I also know that failure will not bother me, because I will not fail on my part. As long as I know it, it matters little what others know or believe. And please believe me I dont think that you or I have failed.

I know that the business we did from Jan onwards at an avg of 50 L approx. per month, with the resources available is definitely a success story, take any comparison. (Paradyne started 2 yrs back, it did 6 Cr first yr of operations & 30 Cr. the 2nd yr, it has charted 100 crs this year).It started as a cut price company, now they have become a 10-15% GM co ,because they have moved up the value chain i.e. Sun, Cisco, multi-location presence, ASPstatus etc. I have full faith that with Orient coming out of hardware business, there is another Paradyne in the making possible with the base/debris/roadkill of the CIM project. I had prepared myself for the worst scenario, hence I was not affected/ traumatized by Ketan’s announcement. I only thought to myself that this means that whatever I thought of/believed in, now it is time to implement.

There comes a time in life when you risk it all & people say you have lost your marbles. I contacted a few friends for advice & none of them say that there is any risk/foolishness to do it. So I’m at a stage where I either do what I outlined above. Or I look for a position for myself, which I started doing on 16th June (completion of 1 yr in CIM).I definitely do not look at any position in Orient, not because I will not fit in. I say this because I see bad Karma in Orient. I will work with a company which believes in itself, which can boast of some quality. Even if it has to be a company of 1 person. I know these are harsh words.Truth is seldom sweet. Do not worry on my account, I will survive this.

So it brings me to the end-game. It is time to say good-bye. It is time to dwell over the past without bitterness & hurt. It is time to remember the positives.(I’m crying as I write this. I am surprised that I have this emotion in me.)

All the best in life & we will be in touch.

Regards

Vazir