🎙️ Pod Shots

This week we cover a podcast from Charleh Knighton where Gaurav Vaid, co-founder of Venturis Inc.,was the guest. They delved into some really interesting topics including; Ikigai, purpose, and the journey of building meaningful products. Gaurav's story is not just about entrepreneurship but also about finding clarity and direction in life after a major personal setback. This discussion is packed with valuable insights for anyone navigating the challenges of building products and businesses.

⚒️ Ikigai and Innovation, Lessons from Gaurav Vaid on Building Meaningful Products

🎥Watch the full episode here

📆 Published: July 30th, 2024

🕒 Estimated Reading Time: 2 minutes. Time saved: 30 minutes🔥

☕ The Rituals That Shape Us: From Chai to Coffee

Gaurav Vaid’s journey begins with a small but telling shift: from tea to coffee. Like many of us, Gaurav's routines have evolved over time, reflecting deeper changes in his life. His transition from chai, a staple for those from the Indian subcontinent, to coffee mirrors his shift from a stable corporate career to the more unpredictable world of entrepreneurship.

Key takeaway:
Small changes in your daily routine can reflect larger shifts in your mindset and life. Being mindful of these changes can often signal a deeper transition in how you approach your work and purpose.

🎯 The “Why” Behind Venturis Inc.: Starting with Purpose

When Gaurav co-founded Venturis Inc., it wasn’t just another business venture; it was the culmination of years of experience and a personal journey that began with a life-altering event—a stroke. This incident not only changed his physical life but also sparked an inward journey, leading him to question his career, purpose, and the impact he wanted to have.

Key takeaway:
Starting with "why" is crucial. Whether you're building a new product or pivoting your career, understanding the deeper purpose behind your actions can guide your decisions and provide clarity during tough times.

🧘 Ikigai: The Intersection of Passion, Skill, and Need

Ikigai, a Japanese concept that Gaurav discovered during his introspective journey, plays a significant role in his life and work. Ikigai is about finding the intersection between what you love, what you’re good at, what the world needs, and what you can be paid for. For Gaurav, this realization came after his stroke and during the global pause that COVID-19 brought about.

Key takeaway:
Finding your Ikigai is not just a philosophical exercise; it’s a practical framework for aligning your career and business with your passions and strengths. For product managers, this can mean focusing on products that not only meet market needs but also align with your personal and professional values.

🛠️ Applying Ikigai to Product Thinking

Gaurav emphasises that entrepreneurship is about claiming agency—having control over what you build and why you build it. He suggests that founders naturally solve problems they are passionate about, which aligns with the first two quadrants of Ikigai. However, staying true to the “why” throughout the product development process is essential.

Key takeaway:
When developing products, always return to your "why." This focus will keep you aligned with your passion and purpose, ensuring that the products you create are not just technically sound but also resonate deeply with the market.

🧠 Embracing a Growth Mindset: Lessons from a Stroke

Gaurav’s stroke was a defining moment that shifted his perspective on life and work. It taught him the importance of embracing a growth mindset—a concept popularised by Carol Dweck. This mindset shift is particularly important for entrepreneurs who face failures and setbacks on their journey.

Key takeaway:
Embracing failures as opportunities for learning is crucial. A growth mindset allows founders and product managers to view roadblocks as part of the process, helping them to innovate and persevere through challenges.

🛤️ Listening to Your Customers: The Nested Why

One of the most critical aspects of product development is truly understanding your customers. Gaurav warns against falling into the “feature trap”—where you continually add features based on customer requests without addressing the underlying problem. Instead, he advocates for the “nested why” technique, asking “why” multiple times to get to the core of the customer’s needs.

Key takeaway:
Go beyond surface-level customer feedback. Use techniques like the nested why to uncover the deeper problems your product needs to solve. This approach leads to more innovative and effective solutions, rather than just a list of features.

📐 The PM² Framework: A Guide to Product Market Fit

Gaurav and his team at Venturis Inc. have developed a framework called PM² for Product Market Fit. This framework is built around four key areas: Purpose, Product, Market, and Money. The idea is to start with a clear purpose (your why), then move through defining the product, understanding the market, and finally, figuring out the money (how the product will generate revenue).

Key takeaway:
Whilst frameworks aren’t a magic wand to solve all problems they can be a helpful way to check you’re covering the key bases. With PM², by starting with purpose and moving through product, market, and money, you can also create a narrative that resonates with both your team and your customers.

🚀 Iterating Towards Success: Knowing When You’ve Got It Right

Iterating is an integral part of product development, but how do you know when you’ve got it right? According to Gaurav, it’s when you no longer have to sell your product aggressively—when customers start coming to you. This is a sign that you’ve achieved product-market fit, and your product is solving a real problem for your target audience.

Key takeaway:
Iteration is key. Keep refining your product until you reach a point where customers are drawn to it organically. This is the true test of whether your product meets the market’s needs.

🔍 Finding Your “Why” If You’re Stuck

Not everyone starts their journey with a clear sense of purpose. For those who are struggling to find their “why,” Gaurav suggests turning to Simon Sinek’s Golden Circle framework. Watching Sinek’s 18-minute TED Talk could be the spark that helps you start asking the right questions and discovering your purpose.

Key takeaway:
If you’re struggling to find your purpose, start by exploring frameworks like Simon Sinek’s Golden Circle. Sometimes, all it takes is the right question to set you on the path to clarity.

🎤 Conclusion: Finding Your Path

Gaurav Vaid’s journey from a corporate leader to an entrepreneur focused on purpose-driven product development is a powerful reminder that our paths are rarely straight. Whether it’s incorporating a small change like switching from tea to coffee or a life-altering event like a stroke, every experience shapes our journey. For founders and product managers, the key takeaway is to stay connected to your purpose, iterate thoughtfully, and always keep the customer at the heart of what you do.

If you’d like to connect with Gaurav or learn more about his frameworks, you can find him on LinkedIn or check out Venturis Inc. and their podcast, Venturi Stories.

Want to know more quickly? Just ask the episode below [web only]👇️🤯
or if you prefer, 🎥Watch the full episode here

📅Timestamps:

• 00:00:00 - Introduction

• 00:05:30 - Transition to Discussing Ikigai

• 00:11:35 - Importance of Finding Passion and Purpose

• 00:16:54 - Importance of Customer-Centric Approach

• 00:19:31 - Framework for Product Market Fit

• 00:24:27 - Iterative Process in Product Development

• 00:29:56 - Recognizing Product Market Fit

• 00:31:18 - Finding Purpose with Simon Sinek's Golden Circle

• 00:32:53 - Importance of Self-Reflection and Empathy