Harsh Pokharna, the CEO of OkCredit, BuildIt, and a global nomad, has an insightful story to share about the evolution of his business and the importance of adaptability in entrepreneurship.
Harsh Pokharna’s journey with OkCredit is a testament to the dynamic nature of startups and the critical role of addressing real problems faced by users. His recent LinkedIn post highlights the pivoting challenges and learnings that have shaped OkCredit’s trajectory over the years.
Harsh Pokharna begins his post with an eye-opening statement: “What we pitched to investors is not what we’re building now.” This bold admission sets the stage for a candid exploration of how initial visions can evolve into something quite different as real-world challenges and opportunities present themselves. Harsh Pokharna emphasizes that while they started with the goal of solving a pressing problem for shopkeepers—helping them collect their dues from the market—the journey took unexpected turns.
Initially, Harsh Pokharna and his team pitched the idea of an “OkUniverse,” envisioning a suite of products designed to make life easier for small shopkeepers. This included solutions like OkStaff, OkNivesh, OkSales, OkShop, and OkBill. The vision was grand, aiming to create an ecosystem that would address various aspects of micro businesses. However, as Harsh Pokharna reflects, “None of them were solving important or big enough problems for them and hence we got no adoption.”
This realization was a pivotal moment for Harsh Pokharna and his team. It underscored a fundamental truth in entrepreneurship: building products is not enough; they must address significant and urgent problems faced by users. Harsh Pokharna highlights the critical lesson learned—users don’t start using random products just because they are available. The key to quick adoption lies in identifying and validating a real, important problem that needs solving.
Recognizing this, Harsh Pokharna and his team pivoted their approach. They focused on leveraging their user behavior data to help banks give out loans to more eligible shopkeepers. This shift addressed a significant pain point in the market and provided a meaningful solution. Harsh proudly shares that the rate of bad loans among their users is less than 2.5%, indicating that their new direction is indeed solving a big problem effectively.
Harsh Pokharna’s journey with OkCredit is a powerful reminder of the importance of adaptability and responsiveness in the entrepreneurial landscape. It is a testament to the necessity of remaining open to change and willing to pivot when the original vision does not align with user needs. His ability to navigate these changes and refocus on solving real problems has been instrumental in OkCredit’s success.
The story of OkCredit, as narrated by Harsh Pokharna, is also a lesson in resilience. It highlights the inevitable challenges and setbacks that come with building a business. However, it is the response to these challenges that defines the trajectory of a startup. Pokharna’s willingness to iterate, learn from failures, and continually seek better solutions exemplifies the resilience needed to succeed in the competitive world of entrepreneurship.
Harsh Pokharna’s insights extend beyond OkCredit to offer valuable lessons for all entrepreneurs. His emphasis on finding and validating real problems before building solutions is a crucial takeaway. It underscores the importance of deep user understanding and the need to stay grounded in the realities of the market. Harsh Pokharna’s journey is a testament to the fact that successful products are those that address genuine needs and provide tangible value to users.
Furthermore, Harsh Pokharna’s story highlights the significance of data-driven decision-making. By leveraging user behavior data, OkCredit was able to identify a critical need in the market—facilitating loans for shopkeepers—and develop a solution that addressed this need effectively. This data-driven approach ensured that their efforts were aligned with user requirements and market dynamics.
Harsh Pokharna’s journey with OkCredit is a compelling narrative of vision, adaptability, and resilience. As the CEO of OkCredit and BuildIt, Harsh Pokharna exemplifies the qualities of a visionary leader who is not afraid to pivot and change course in response to real-world challenges. His story is an inspiration for entrepreneurs everywhere, highlighting the importance of staying attuned to user needs, being open to change, and leveraging data to drive meaningful solutions. Harsh Pokharna’s candid reflections provide a valuable roadmap for navigating the complexities of entrepreneurship and building products that truly make a difference.
