Mastering Tech Spend Reduction with Quolum's Indus Khaitan: Embracing Curiosity and Persistence in Problem-Solving and Product Direction

After discovering a problem in the tech industry that people needed help solving, Indus set out to build a business model that would help reduce tech expenses. With no background in finance, he follows his curiosity and creates a billion-dollar business, but little did he know that the CFOs would come in with an unexpected solution. What will happen next?

You are at the mercy of your own deeds.

Indus Khaitan is an entrepreneur who has thrived on curiosity and persistence in problem-solving. Growing up in a small mining town in India, he has come a long way to become the founder of Quolum, a SaaS and cloud spend reduction product. Indus previously founded Bitzer Mobile, which became Oracle's first acquisition in mobile. His passion for solving unique problems led him also to co-found Morpheus, a venture capital firm that supported early-stage startups in India. With a penchant for diving deep into unexplored areas, he has learned the importance of balancing family life and career while tackling challenges head-on.

Indus Khaitan's journey began in a small mining town in eastern India, where he learned the importance of working hard and taking ownership of problems. This mentality stayed with him as he experimented in various fields, ultimately leading to Quolum's founding in 2019. 

Indus' curiosity and persistence to solve problems allowed him to adapt Quolum's product from a simple software-only card to an end-to-end tech spend reduction and management platform. Despite having yet to gain experience in finance, Indus contacted second-degree connections on LinkedIn, seeking feedback and insight. His discussions with his contacts led to the lightbulb moment of incorporating a card designed for software purchases to make Quolum relevant to them and their processes.

In this episode, you will be able to:

Awaken your inherent curiosity and unlock the power of persistence in tackling complex problems.Master leveraging customer feedback to set the right course for your product.Discover the secret of finding product-market fit by harnessing your industry expertise.Learn how to drive massive traffic with compelling and top-notch content.Cultivate a thriving company culture through effective leadership and collaborative efforts.

Finding Product Market Fit

Entrepreneurs must experiment and seek customer feedback to find the elusive product-market fit. Reaching out to individuals within their network or second-degree connections on LinkedIn, particularly those in roles such as CFOs or heads of finance, can provide valuable feedback on their product offering. By maintaining open-ended interactions, entrepreneurs can collect honest input that may help shape the direction of their product. 

In the Predictable B2B Success Podcast, Indus Khaitan emphasizes the importance of leveraging early customer feedback and being a domain expert to find product market fit. He shares how Quolum experienced product-market fit overnight with a DocuSign stock crisis in 2022, which he attributes largely to the right timing. Khaitan advises entrepreneurs to be patient, have in-depth industry knowledge, and stay open to customer feedback for success.