On Entrepreneurship, Reservations, And Making The Largest Online Platform For CAT Preparation – Indrajeet Singh, CEO Of iQuanta
Indrajeet Singh, the CEO of iQuanta, gave a new direction to the world of online teaching where the doubts get cleared within seconds or minutes using the previously neglected medium, Facebook as his platform. He started iQuanta in 2015, and it delivered splendid results in its very first year with two 100%ilers, sixteen 99.6+ %ilers & around 30 final converts from IIM A, B, C and XLRI. iQuanta is mostly about unconventional methods and concepts which aren’t taught in conventional coaching centres and his free peer learning platform i.e. CAT Preparation-iQuanta group consists of highly active 2 lakh members. In this interview, we cover what and how he started his venture and his vision forward.
Did you always want to be an Entrepreneur? And when did you realise that helping MBA Aspirants clear Entrance Exams is what you want to do?
I was never clear about my goals. All that I had in my mind, was to be free, without restrictions and limitations. And it’s really worked out for me. Which is why when people talk about long-term goals and pursuing that no matter what, I believe in doing things that excite me the most in the moment.
During my 12th I had cleared NDA twice, but I didn’t go for SSB (interview) for similar reasons. I thought, if I cleared it, (which had a high chance as my dad is in the Air Force too) I was sure my family would have sent me for it. Though I have high respect for the uniform and by saying I rejected it, I do not intend to disrespect the uniform, but I do not think I would have done justice to the job as my aspirations did not match. Though had I gone for it, people would call me Squadron Leader Indrajeet Singh by now, which would sound cool. :p
But on a serious note, starting something like iQuanta wasn’t something I planned. It was in a flow. So when people say that having a concrete goal is of utmost importance, I believe that do things that excite you in the moment. Serendipity is beautiful but highly underrated.
I started preparing for CAT in my 3rd year of Engineering. I used to solve questions posted by others on forums during my classes. Used to solve even when faculty used to catch me using mobile and make me stand. I really enjoyed solving sums, and within no time I could solve questions faster than the 99%lers of the group, which boosted my confidence. That whole year I solved questions 18 hours a day! My parents were worried as I didn’t care about my semester exams and had no clue what I was doing on mobile all the time. On the result day, a lot of aspirants gave credit to me for helping them out. On popular demand, iQuanta started in 2015. And I haven’t looked back ever since.
What would you say is the biggest mistake you made as an Entrepreneur?
None. You either do good or you learn something from it. This may seem a tad arrogant but it really depends on how you define a mistake. For me, a mistake is an experience.
What is the one skill you think all entrepreneurs should possess?
Persistence. As an entrepreneur, there will be times that you may feel bogged down if even you haven’t managed to reach a small milestone. But it’s important to not let that define you as an entrepreneur and keep moving forward. And persistence is the only way you can make it big. To do what you like and feel passionate about every day.
You recently adopted a village in Bihar. What was your thought process while making the decision and why’d you do it?
I got a letter from a guy from the Dobhi, Gaya village regarding lack of proper education and funding requirements. Quality education should be a fundamental right of any citizen is what I believe. Also, during my JEE preparation days, I wondered a lot about Reservation and that made me think about the facilities available to the backward areas. The aim is to adopt a 100 village for quality education before I rightfully demand Reservation free India.
How do you see yourself scaling up in the years to come?
One of our priorities is doubt clarification within minutes. As the number of students increases, it is not possible to answer all questions, though as of now there have been 2000 students and still none of the doubts go unsolved and mostly within first few minutes. This I want for all the 100% queries, and for that, I’ll need a dedicated team, for which hiring process is going on and hopefully we will see a great course of action for 2018 CAT course.
What is the one thing that you look for in a potential employee?
Dedication towards work and quality, as much as me.
You made a previously neglected platform – Facebook, as your platform to help MBA aspirants. And in just 2 years time, you managed to create a group with more than 2 Lakh active members on Facebook. How did you go about it?
One reason for such a massive group is that, in 2014 and 2015, ie for 2 years, I used to answer 90% of the questions posted on the platform, within first few minutes.
What makes iQuanta a unique experience for MBA Aspirants?
24 x 7 doubts clearance is what none of the coaching classes is able to provide. Also, the way of approaching questions is unconventional. I believe this is because, I didn’t follow what’s there in the books but approached it with hit and trial method, research, and trying to relate basics in shortest steps for solving any doubts aspirant used to ask. Then all the methods and concepts accumulated were kept in a concise way in iQuanta course. That’s why the iQuanta methods don’t match much with any standard CAT book.