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"The sky is the limit" in the human resource outsourcing

industry, exclaims Kalpana. Combine that with an almost
magical way of leveraging resources, and Beanstalk's growth is
practically fairytale - even down to the bumps and bad guys.



Entrepreneur : Kalpana Bansal
Age : 35
Company : Beanstalk
Based in : Mumbai
Founded in : 2006
Industry : Recruiting/ HR/ Training



 
Outsourced HR consulting services (non recruitment), training
and assessment.


On the one hand was boredom: "I realized that I
was being paid a salary to do things for others." On
the other, opportunity: "I sensed a complete lack of
respect for the peoples' function in India by line
managers. There was burning angst within me to
attempt to set things right." And the seed was sown.
o, after 13 years in corporate human resource management
Kalpana Bansal quit Mudra as the Executive VP of the LLC
division. Armed with an intimate understanding of the business,
a great network, and a laptop, she started her own human
resource consultancy business from home, in May 2006.
Early indications were great: "My first business walked in two
days after I set shop up, from an earlier client, and things began
from there."
The business was off to a smooth start, but Kalpana ran into
some unexpected challenges. "I think women pull down
women," she says. "Teachers expected me to be there for the
PTA of my children." Her two children are nine and seven years
old. "ome of my neighbors told me I was lazy and had no
focus, just because I was being an entrepreneur and spending
more time at work." Kalpana, however, remained driven by the
opportunity she could see.




"o many sectors of India's economy are growing by 15 percent
or more each year," Kalpana explained, "so there's shortage of
talent in virtually every vertical." On top of that, things are
changing fast in the markets, so "people need to keep learning
and retraining." According to Kalpana, the human resource
management sector in India is worth Rs. 70,000 crores. Within
that, the training segment alone is worth over Rs. 3,000 crores
annually.
Kalpana started by consulting with clients, and then rapidly
expanded into training and assessment. "I was sitting with a
client who also wanted training services to be included. We
started training due to the client pull," she says.
The two businesses complement each other in more than one
way. The combination provides a full suite of services for
clients. And "the consulting company is an expertise-driven
model while the training company is a scalable model of bulk
business," Kalpana explains.
Beanstalk's customers? Any corporate, NGO, educational trust
or even political body that employs people could be a customer.
Today, every organization needs to work hard not only to ensure
their employees are well trained, but simply to keep them.
Kalpana believes that her biggest competition lies outside the
industry. Beanstalk's "major competition today is from alternate
sources where money can be spent on employees. This includes
travel, holidays, entertainment and eating," she explains. "The
competition factor comes up when the same pie is divided
amongst many players."
The key to dealing with competition: "Be yourself. Everyone
offers services. It's how you do it that makes the difference," she
quips. "Also, if the pie increases there is enough for all."





When Kalpana went to an investor, he called up her husband to
check on Kalpana and her work. "Would he have called up a
man's wife who'd come to him with a business plan?" she asks,
still flabbergasted.
Kalpana ended up reaching into her own pocket to start things
off. But her creativity in leveraging other resources allowed her
to get started without much cash.
Kalpana billed clients 50% advance to cover costs. Her first
assignment brought Beanstalk Rs. 45,000. And on a total
monthly rent bill of only Rs. 10,000, Beanstalk now has offices
in Mumbai, Kuala Lumpur, Delhi and Bangalore -- Kalpana has
worked out arrangements with clients in Delhi and Bangalore
wherein she uses 3-4 seats in their office.
"In the first two years, a company doesn't require more than 4-5
seats in one location. Only in Mumbai I converted my
grandfather's clinic into a 20-seater office," she explains.
At Beanstalk, money comes in directly with the work - a sure
steady stream, and Beanstalk "manages decent margins," shared
Kalpana. But Kalpana realized that if she wanted to grow very
quickly, she would still have to raise outside capital to invest in
the business.
he found an investor - 1.6 billion dollar hedge fund - to fuel the
expansion of her training company.
 
Kalpana has freelancers working for her across the country.
Only after Beanstalk received funding, did Kalpana hire anyone.
"We now have fifteen full-time employees in India, three in
Kuala Lumpur, and our JVs have staff in them that support us.
With our freelancer base, it would take the number of people to
34," she says.
In addition to her team, there are 'a few good men' who have
stood by her. Her father-in-law is her biggest believer and her
father is actively involved in Beanstalk today. The third pillar is
her mentor andeep inghal, MD Nexus Capital who gave her
the initial push saying, "It's time you got out and did things only
you can do."

 

 
After 18 months, Beanstalk has a strong client base of 31
companies. Beanstalk provides them with a range of services
including end-to-end human resource solutions, HR strategy,
organization design, compensation structuring and more.
When Kalpana looks at the human resource outsourcing
industry, she sees it "spiraling upwards." Kalpana aims to grow
the team from 34 to 100 people over the next two years.
"In five years, we want to try and reach $ 500 million U in
each segment, and while it seems a big number now, I see the
potential in the market for this kind of volume," Kalpana says.
  


"Fear," she says, without a moment of hesitation. More than an
external threat, it's the internal dilemma that is her biggest
concern. "Fear of scaling up, facing defeat and what could go
wrong."
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