"Gradiant is the Google of the Water Industry" - Prakash Govindan (Gradiant)
What will you learn about Gradiant, the first-ever Water Tech Unicorn, if you listen to this week's release of the Podcast? Well, I have seven insights for you, starting with number one:
Innovative Business Model and Focus on Proprietary Solutions: A significant portion of Gradiant's projects (60%) are sole-sourced, meaning they face no competition for these projects because they develop the solution from scratch for their client. This approach underscores the importance of offering bespoke, innovative solutions to clients' unique problems, a strategy that can be crucial for startups, sure, but also for anyone aiming to differentiate themselves in the competitive and sometimes commoditized water market!
Emphasis Rapid Technology Development: Gradiant's success is partly attributed to their philosophy of pushing technology to market quickly, embracing the concept of Minimum Viable Product (MVP). They focus on developing technologies that are good enough to solve the problem at hand and getting them into the field for testing, rather than waiting for a perfect solution. This approach accelerates adoption and allows for real-world feedback to refine that said technology.
Attracting and Retaining Talent through Generous Incentives: If Prakash is so certain that Gradiant's special sauce lies in its people, it's no wonder that Gradiant has set a high industry standard by allocating 7% of the company for employee participation, excluding the founders. This generous approach to employee equity is indicative of the value they place on their team's contribution to the company's success and can serve as a model for how startups might consider structuring their own incentive programs.
Building a Strong Company Culture and Team: I just touched on how Gradiant attributes a large part of their success to the quality of their team and the company culture they have cultivated. Well, this emphasis on assembling a talented and culturally cohesive team highlights the importance of not just technical skills, but also the alignment of values and vision within the company.
Leveraging Acquisitions for Strategic Growth: Gradiant's strategic acquisitions, particularly in markets where organic growth would be too slow or challenging, demonstrate the value of targeted M&A activities to rapidly expand capabilities and market presence. There's again a talent aspect to this, as their approach to keeping and incentivizing the talent within acquired companies further emphasizes the importance of people in Gradiant's growth strategy.
Adapting Business Models to Market Needs: Gradiant's ability to adapt their business model, such as the Build-Own-Operate (BOO) approach that got them started in Oil & Gas and still gets applied today on certain projects, showcases their flexibility in meeting client needs and market demands. This adaptability is a critical strategy for navigating the complex and varied global water market. Note as well that they don't claim they've been super clever in using this approach; they actually "stole" it from their customers! Listen and adapt; there's win-win potential in that.
Emphasis on R&D and Innovation Centers: The establishment of innovation centers in strategic locations underscores Gradiant's commitment to continuous innovation and development of bespoke solutions. This approach not only fuels their pipeline of proprietary technologies but also positions them as a globally local leader in water tech and in the water industry.
I could have taken more, but I think seven is a good chunk to go out and apply, so here you have it. If you think I've missed one that's even more important than those seven, come tell me on LinkedIn or by mail (my mail is in the description).
Full Episode: https://dww.show/how-gradiant-became-the-first-and-only-water-tech-unicorn/
Hosted by Ausha. See ausha.co/privacy-policy for more information.
Powered by Ausha 🚀