Becoming an entrepreneur is risky business and many take the stance that in order to survive you need to be a risk taker. Ketan Benegal, founder of CloudFountain Inc and our latest guest on Entrepreneur Stories, takes a different stance.  

Ketan believes that in entrepreneurship it’s more valuable to be risk averse. As an entrepreneur, it’s important that you know how to calculate the value of a risk before you take it: analyze how likely it is to work, what the return on investment will be, and, essentially, if the risk is one worth taking. 

Other nuggets of gold shared were the importance of limiting distractions, being fully invested and interested in your chosen field, and maintaining a strong focus on your goals.

What are three things every entrepreneur should know?

First and foremost, Ketan began his answer to this question by acknowledging that being an entrepreneur is not easy and you should only pursue this path if you are really into it. Truly interested in the industry you want to enter and impassioned by the problem you are seeking to solve. 

Rather than seeking an easy way out of a 9-5, you should be prepared to tackle the challenges and difficulties that come with building a business. Embracing the more challenging path often leads to greater rewards and growth opportunities.

He followed this up with a rather interesting view that contradicts some of the perspectives we’ve heard before: if you are a risk seeker, you may want to think twice before becoming an entrepreneur. 

While it’s not a common piece of advice, Ketan backed it with sound logic. He expanded on this point by explaining that entrepreneurship requires not just risk, but calculated risk as well as the ability to carefully evaluate potential pitfalls when planning for the future of your business. 

Lastly, entrepreneurs must maintain a strong focus on their actions and continuously strive for improvement. It’s important to persevere until your goals are accomplished, regardless of the outcomes you encounter along the way. 

Dedication and persistence are key qualities that entrepreneurs need to possess in order to succeed – along with the ability to avoid distractions.

What inspired you to become an entrepreneur?

Like a few of the entrepreneurs we’ve had the pleasure of chatting with, Ketan began his entrepreneurial journey at quite a young age from which he possessed a natural inclination towards enterprise and seeking opportunities for growth.

His first entrepreneurial venture took place during seventh grade when Ketan acted as a middle-man selling furnace bricks. Although the topic may not have been particularly flashy, Ketan discovered that he could make money out of it and decided to pursue the opportunity.

His target customers were local bakeries, and he would bike around town, acting as a distributor for the furnace bricks. Naturally, due to his young age, he struggled to gain credibility and be taken seriously. However, Ketan embraced the experience and learned from his mistakes – as children often do without the fear of embarrassment or the aversion to risk that adults may have.

While the furnace brick business eventually came to a halt due to his studies, Ketan’s entrepreneurial spirit continued to thrive. He found joy in teaching younger kids math and science during his school and college years, recognizing it as yet another easy way to earn money while he was in school. 

Overall, Ketan’s innate passion for growth, willingness to face rejection, and enjoyment in exploring business opportunities shaped his path as an entrepreneur. His early experiences laid a foundation for his future ventures and instilled in him a passion for embracing challenges and seeking innovative solutions.

What problem does your business solve and who are its customers?

Ketan Benegal’s business, CloudFountain Inc, specializes in solving technology-related challenges in three key areas: CRM (Customer Relationship Management), Big Data, and Machine Learning. Their core focus revolves around digital transformation and business process consulting with their primary clientele consisting of technology firms, nonprofit organizations in the tech sector, and manufacturing companies.

While they offer value-added reselling services, their main emphasis lies in providing consultation and solutions to assist companies in their digital transformation journey. In terms of CRM, their current focus is primarily on Salesforce, which is widely recognized as a leading CRM platform. Ketan Benegal’s business aims to help organizations navigate the complexities of technology and optimize their processes through tailored solutions and expert guidance.

What is your proudest accomplishment as an Entrepreneur?

Ketan’s proudest accomplishment as an entrepreneur stems from securing a key client for his business, who had the whole team dumbfounded when they reached out. The sudden unexpected opportunity from a major client seemed unlikely, and they cautiously verified the authenticity of the inquiry.

They submitted their response to the client’s request for proposal and received radio silence in response. Keeping the opportunity in mind, after two months, the client responded, informing them that they were one of the top contenders in the RFP process and commending their responses. 

This acknowledgment signaled a turning point, and Ketan’s team began to take the opportunity seriously, upping their game.

The subsequent stages involved extensive interviews and interactions with the client, as well as evaluations of their references. The client’s interview with their references proved crucial, and Ketan’s team received exceptional feedback from their clients. 

This accomplishment deeply resonated with Ketan as it validated their commitment to delivering value to clients. It serves as a testament to their dedication, process-driven approach, efficiency, and ability to consistently exceed client expectations.

What big goals are you looking to achieve?

Ketan’s main goal with CloudFountain Inc this year is to increase their revenue by 80%. The company has already established a strong reputation for delivering excellent solutions to its clients and is now shifting its focus towards sales and proactive marketing efforts. 

To support this goal, CloudFountain Inc has recently recruited digital marketing professionals to handle SEO and content writing, as well as sales outreach and business development personnel.

According to Ketan, they currently face no major obstacles that are holding them back from this goal. The company is actively planning and strategizing – leveraging their newly formed team to drive sales and generate revenue.

Some become entrepreneurs because they experience a problem that they absolutely have to solve, others do it because they notice a pain point that they want to relieve for others, and a few, like Ketan, do it because their brains are simply wired that way. 

Do you have an entrepreneurial mind? Are you successfully running a business with that entrepreneurial mind? We’d love to connect with you to chat about it – get in touch with us today to share your entrepreneur story.