Anil Kumar, founder of Jodi365, shares his entrepreneurial journey, navigating strategy, management, and innovation. From launching a differentiated matchmaking platform to overcoming execution challenges, he reflects on leadership, market dynamics, and adapting to technological shifts in India’s evolving business landscape.
I finished my MBA a little over 15 years ago. We studied a lot about strategy, management, and innovation. Textbooks provide a certain perspective, but I’m not here to discuss these topics from a theoretical standpoint. As I was completing my top-tier MBA, numerous opportunities began to open up for me. I had been an apprentice at Hyde Park Angels, one of the largest angel investment networks in the Midwest, which graciously introduced me to venture capital and allowed me to explore startups worth investing in.
However, I had an itch to be an entrepreneur and to experience the trenches myself. I didn’t believe I could be the kind of venture capitalist that an entrepreneur would respect without having been an entrepreneur first. So, I pursued the business opportunity that excited me the most at the time. Despite having been in the U.S. for nearly 15 years and doing well professionally, the same pursuit of opportunity that led me from India to the U.S. over 30 years ago brought me back to India a little over 15 years ago. Today, I’m running a differentiated matchmaking platform, Jodi365.com.
The perspective I bring is that of a business owner and operator. I won’t be discussing strategy from a textbook viewpoint but will instead share the lessons I’ve learned through real-world experience—the challenges I’ve faced and the scars that have shaped my understanding of strategy, management, and innovation. I want to share how I’ve tried to improve my business, make fewer mistakes, and learn from them. When you think about strategy, you can look up dictionary definitions or read textbooks, but essentially, it’s a plan of action—how you go about winning.
In Search of a Partner
In my mid-30s, as a single, ambitious professional, I didn’t have time for the nightlife or socialising with friends. I still desired a balance between career and family, so I wondered how to find a partner. Online options had emerged with the first wave of the internet. We had online matrimony sites, both Indian and Western, which were of more dating-focused versions.
However, none of these platforms worked for me. The leading matrimonial sites were unappealing. Like most consumers, I stepped back, tried different platforms, and eventually looked for other ways to find a partner. Fast forward 10 years. Finishing my MBA with entrepreneurial aspirations, I realised the problem wasn’t just mine. Many educated professionals faced similar challenges. I thought there had to be a better way, and I could build it for this target segment.
When considering a new business, it’s tempting to think about the vast market potential. In 2009, India’s internet penetration was in single digits, around 7-9%, well before the 2016 Reliance Jio revolution that brought millions of Indians online. Instead of trying to capture a large market, it’s essential to focus on a specific niche. This is a key part of strategy—having a clearly differentiated idea and a plan for winning. So, strategy is about determining how you are going to win and what you want to win at.
Jodi365: A Target Segment
In matchmaking, there must be significant differentiation. With hundreds of platforms based on religion, language, and community, the niche I chose was educated professionals like myself. The logo of my business, Jodi365 reflects my story and it says “for quality singles.” This was my beachhead, targeting an underserved segment.
At one point, I secured a deal with the IIT Madras Alumni Association, comprising 30,000 to 35,000 alumni, many of whom graduated in the 70s and have children of marriageable age today. Recent alumni, well-settled in their careers, also seek life partners. They value good families and education over specific religions or communities. We aimed to cater to this need at Jodi365, becoming the exclusive matchmaking provider for IIT Madras alumni. We had similar tie-ups with groups from IIM Bangalore, IIM Calcutta, and the Network of Indian Professionals in the US. This focus on educated professionals defined our community and our approach.
Everything is easier said than done. Management is about translating strategy into action. Execution is key. Reflecting on Mike Tyson’s famous line, “Everyone has a plan until they get punched in the face,” illustrates the challenge. It’s one thing to have a strategy, like creating a new matchmaking platform, but quite another to execute it.
Building a Business as a Desi
When I decided to launch my business, I didn’t want to be an NRI dictating solutions. I returned to India to understand the market and see if my hunch about an unmet need was correct. I realised that to build a platform, I needed a product. And for a valuable product, you need the right people. Freshly back in India after 15 years, I needed a tech-lead to help architect the website. Finding someone was tough, as startups weren’t yet mainstream.
A young man, impressed with my vision, agreed to join and even promised to bring along a small team. However, after some time, he backed out due to advice from his father-in-law, illustrating the real-world challenges of turning strategy into action.
Innovation, The Third Pillar
Innovation is the third pillar, alongside strategy and management. It’s not just ‘nice-to-have’ but ‘essential’ in today’s fast-paced world. Take Nvidia, for instance. Their innovation in GPUs has made them a leader, even surpassing Intel which was the darling of semiconductor innovation, in market value. This highlights the importance of staying ahead through innovation.
There are various types of innovation, and for me, it began with introducing a new product, almost creating a new category. My experience showed that while there were plenty of matrimony sites in India and dating sites in the West, the cultural context was different. Even in India, where change was happening, there were still conservative elements.
I realised that despite some liberal and progressive pockets, India remained a country where Valentine’s Day could provoke extreme reactions. Hallmark store windows might be smashed, and couples walking hand in hand could be harassed by right-wing groups claiming it was a corruption of Indian culture. These groups might even force couples to marry or tie rakhi. Anything could be politicised, making it a challenging environment for mainstream market acceptance. Understanding this, I knew that a traditional approach wouldn’t work. I needed to innovate and find a way to cater to the unique cultural landscape of India.
Launching a Hybrid Model
Purely matrimony sites didn’t quite appeal to the 20-somethings and 30-somethings, and I was part of that generation. So, I developed a hybrid model that combined modern and traditional elements to create a new platform that appeals to the younger generation without alienating the older generation. This was the genesis of Jodi365—not purely a matrimony site, nor a dating site, but a hybrid model.
Innovation can take various forms. You can improve processes, translate the same product into different markets, or find new ways to deliver value to customers. I had the idea for a different kind of matchmaking platform, which formed my strategy. But to win, you need a product.
I faced early challenges in building the product and website, realising that you can’t just build a product once and consider it finished. Software requires continuous innovation as feature requirements evolve and users demand more. It didn’t make sense to outsource this work because you can’t claim to be a tech company or an innovator if you outsource your core product.
There are notable examples where non-tech founders succeeded, such as the founders of Airbnb and Calendly. Even Steve Jobs wasn’t a techie. However, I believed we needed the product in-house. I opted for a hybrid approach—working with a web services company initially, with the understanding that they would deploy a team and eventually hand over the initial minimum viable product and some team members to me in-house. That was one of the ways I translated my innovative idea into something executable in-house.
Shift from Management Mode
Over the years, I’ve learned many painful lessons in management. I often found myself operating in management mode, focussing on daily tasks rather than thinking strategically about how quickly the tech landscape was evolving.
I frequently discussed this with one of my mentors, a celebrated strategy professor at Booth. I told him how I felt stuck in management mode rather than thinking strategically. Talking to him, I realised why there is work for strategy experts. Management teams often get caught up in day-to-day operations, and experts help balance the three pillars within an organisation: strategy, management, and innovation.
The challenges were even greater given that I was a solo founder. Investors often prefer to back teams because it’s hard to find all the complementary skill sets in one individual. Someone might excel in tech, while another might be great at business. A classic example is Steve Jobs and Steve Wozniak. Wozniak was the technical genius behind the early Apple computers, while Jobs was the business mastermind. Their design team also deserves credit.
I managed to build a strong tech team in-house, but I struggled to keep up with strategic innovation. We were slow to transition to mobile. In 2009, smartphones and apps were not common, and people weren’t used to browsing websites on mobile devices. It took time to realise the necessity of a responsive web app.
As apps gained prominence, we were slow to adapt, and it required entirely new skill sets that were scarce in the marketplace. We attempted shortcuts, like building hybrid apps, but they were clunky. This process left me with many scars and lessons learned. It’s one thing to read about strategy in textbooks and case studies, and quite another to execute it while running a business.
The Disruptor Arrives
We stayed true to our hybrid model for years. Then, a few years after launching Jodi365, a dating app called Tinder emerged, and their innovation was phenomenal. It is not a dating app but a hookup app and perceived as crude, fairly or unfairly. But I must give credit to Tinder for their innovation on the mobile.
Before Tinder’s rise, a globally renowned venture capital firm recognised that India’s matrimony space was ripe for disruption. They saw potential in alternatives to traditional matrimonial sites and took notice of Jodi 365. It was flattering when they expressed interest in backing us, believing they could be the catalyst for our growth. They said, “We considered Jodi365 among 17 different investment possibilities and believed it would outperform others.” This was pre-Tinder era.
Balancing Supply and Demand Side
I wasn’t looking for funding at the time because I didn’t believe that more money would solve my problem. This ties back to the concept of strategy. Some people believe in the “winner takes all” or “go big or go home” approach, but there are different models, such as network effects businesses.
Running a marketplace, like Amazon, requires balancing the supply side (sellers) and the demand side (buyers). When Amazon entered India, they faced the challenge of attracting consumers without enough sellers and vice versa. This situation is similar to Visa and MasterCard, who needed businesses to accept credit cards and consumers to use them simultaneously. Building a marketplace is a classic chicken-and-egg problem.
The key lesson is to build the supply side first. Amazon successfully did this by securing numerous sellers in India before aggressively marketing to consumers. This ensured a robust catalogue of products, enticing buyers to the platform.
In the matchmaking business, you don’t have true network effects. Customers join to find a match and then leave once they succeed. It’s a one-shot deal. The better you are at finding matches, the quicker you lose customers because they no longer need your services. This means you must constantly innovate to sustain an enduring business.
Swiping fatigue is now common with all these apps, and the issues with online matchmaking persist. Profiles can be fake. This complexity led me to pivot towards a purely personalised service for serious clients willing to pay for premium services, alongside a lighter version of Jodi365 for the masses.
Lessons in Abundance
I’m speaking from a place of continuous learning. My business deals with a modest scale, with a P&L impact of a few crores a year, and less than 20 people on board. We are a nimble organisation. I encourage my team to keep their ears to the ground, listen to consumers, and pay attention to trends. This interplay between strategy, management, and innovation is crucial for navigating the ever-changing landscape.
I’m not ashamed to admit that I was caught off guard, being so focussed on building better versions of our platform that I neglected the need for a mobile app. Initially, we only had a desktop web app, then a hybrid app, but we didn’t have a native app. Running a small team, one of the best things I’ve done is encourage every new hire to be bold. You cannot innovate if you’re afraid to speak up or worry about how your ideas will be received by the boss or your manager.
I’ve been influenced by the professional culture I experienced in the US, where I lived from my early youth into my mid-30s. I appreciated the PhD title perks, but I prefer a first-name culture. Even the youngest interns at the company call me Anil. This approach fosters mutual respect without excessive deference. If you show too much deference, you won’t challenge ideas or speak up when necessary.
It’s important for me that my team feels empowered. I challenge them to challenge me and be bold because I don’t have all the right answers. If we did, we might have been a public company by now. While I don’t necessarily aspire to that, it is one benchmark of success for startups that have secured funding and gone public, providing liquidity and the potential for huge rewards.
Focus on Strategy
Another key aspect is to take occasional time-outs to detach yourself from the day-to-day management and shift your focus to strategic thinking—ideally on a monthly basis, if not weekly. Conduct regular strategy reviews to ensure you’re not overlooking changes or emerging trends that may require course correction. This isn’t just about adjusting your strategy; it’s also about recalibrating management approaches. It’s one thing to say, “This was the strategy, and here’s the plan of action,” but the reality is that circumstances evolve.
Look at the past five years—how much change we’ve experienced. COVID disrupted businesses worldwide. It wasn’t business as usual; many offline businesses shut down or took extended sabbaticals. The workforce became dispersed and remote, presenting challenges for both employers and employees alike.
I run a business, and I often say jokingly, that I’m in the business of ensuring compliance with regulations, month after month. India was ranked 140 on the global Ease of Doing Business Index. While it has improved to 70, it’s still far from 7. As a business owner and operator, I feel the challenges of this ranking every day. I’m still on my journey, working to scale Jodi365 to deliver greater impact. With the lighter version of our platform, we plan to make a bigger splash. My story is still being written—picture abhi baki hai.
Be the Disruptor
Whether you are management students, young professionals, seasoned professionals, or even individuals considering a career shift—know this: even established organisations can no longer afford to go about business as usual. You must be ready to handle the winds of change and mitigate the risk of disruption.
One large organisation that has successfully embraced intrapreneurship is Intuit, the US-based maker of TurboTax, a leading tax filing software. They’ve empowered internal teams to innovate, fostering a culture that drives progress from within.
On the other hand, consider how resistance to innovation can hinder progress. For a long time, Microsoft has hesitated to embrace changes that could threaten their cash cow—the Windows operating system. Success often requires being willing to disrupt your own flagship product to come out stronger. Kodak is another classic example. Despite having digital technology in hand, they clung to their film camera business, ultimately losing their market dominance.
Even in large organizations, staying relevant requires constant innovation and adaptability. For businesses of any size, it’s about remaining a going concern. I often tell my team that one of the biggest advantages of working with us at a small company is that you don’t just learn from us—you learn with us.
Q&A
Q: How do you compare the level of innovation in India with that of Western counterparts?
Anil Kumar: I can only give you my biased perspective. There are a lot of copycats here, which is not a bad thing. Some of it has to do with the funding opportunities. Maybe you could blame it on the VCs in India, who look at something that succeeded in the West, like Airbnb, and want to fund a Stayzilla, an early Airbnb clone. There’s a Jugaad mindset, and maybe there’s more awareness and appreciation for the inventive spirit of desis. There’s the good, bad, ugly, mediocre, and exceptional in every society. Look at our UPI, our homegrown solution, for example. Such innovations need to be applauded.
Q: How can multiple innovative ideas be moderated?
Anil Kumar: We must find a way to surface the best ideas when multiple ideas arise. I am a big believer that it takes a champion to do something new, which is why founder-led startups succeed to a larger extent than those where CEOs are brought in externally. Steve Jobs had to be brought back to Apple for it to regain its glory days. In the founder mode, innovation is encouraged. I’m not a fan of things happening by committee and consensus. Give people the freedom to share their ideas.
Q: What has been your biggest challenge as a founder and CEO in integrating these three elements—strategy, management, and innovation into your business venture?
Anil Kumar: There are many challenges. I had listed in a tweet 20 different challenges that could keep me up at night as a founder and CEO. Bandwidth is the biggest issue for me. There’s only so much that one person can physically do. It has motivated me and reminded me how imperative it is to delegate more. I am an inveterate micromanager and too much of a perfectionist. I need to remind myself that “good enough” is good enough, and “done” is better than perfect.
Q: How can we foster a culture of innovation?
Anil Kumar: Encourage the creative spirit and let people know that it’s okay to fail. You can’t come up with something new without falling short most of the time.
Q: Can you share insights into the role of AI and data analytics in enhancing strategy and innovation?
Anil Kumar: AI is a useful tool in many facets of our daily and work life. However, it’s not a genie that can provide all the answers. While AI, like ChatGPT, can help generate presentations on strategy and innovation, translating these insights into real-world experiences requires human intuition and execution.
Q: What common mistakes do businesses make when trying to integrate innovation into their strategy?
Anil Kumar: I can speak about my mistakes. I’m not sure if businesses focus enough on innovation. I may be wrong, but I’ve long felt they don’t have the luxury to think about innovation. They get caught up in day-to-day management until they are disrupted. A culture of deference, where most decisions are made by the highest-paid person in the office, is detrimental to fostering a culture of innovation.
