"Building a business is like bringing up a child," said Ghazal Alagh, the co-founder and chief innovation officer of Mamaearth, while explaining the the ley values that she and her CEO husband Varun Alagh use to build their business. "Instilling values and principles early on build character, forming the very core of their being. They are the key success drivers and crucial to guide the product, company, and brand," she wrote in a LinkedIn post.
The "Chief Mama" at Mamaearth explained that it is the founder's responsibility to design the principles that the company will operate on for years. Ghazal Alagh then shared the three values that she and Varun Alagh put in place while building Honasa Consumer Ltd -- Mamaearth's parent company.
1.) Encouraging feedback
"Being open to input and constructive criticism from our peers and team." Communication should be a two-way street and is crucial for a high-performance team, she added.
2.) Being frugal
Ghazal Alagh also pointed out that it is important to know when to say "no". "Strategy is in knowing when to say no and avoiding unnecessary expenditures. It fosters resourcefulness, self-sufficiency, and innovation," she said.
3.) The attitude to win and not settle
According to the Mamaearth co-founder, setting a high standard for winning challenges people to work harder and pushes them out of their comfort zone. "The ideology of always learning and never settling for the ordinary has helped us achieve our long-term goals," she wrote.
Meanwhile, CEO and co-founder Varun Alagh “dismissed” as baseless the reports that said the skincare company had scrapped its initial public offering (IPO) plan.
“Reports of withdrawal of Mamaearth IPO are baseless. We are still in the IPO process, engaging with the regulators and bankers. We should get approval on IPO prospectus by next month,” Alagh told CNBC-TV18 in an interview.
He said that beauty and personalisation was a mature market in India and added they were “still some time away from finalising valuations”.
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