Written By: Tanisha Malyan
Breaking Barriers and Leading Transformation: The Rise of Practus in the Consulting World
Practus started in 2007 as an Indian consulting company with the vision of helping multinational companies navigate the complexities of entering the Indian market. At a time when India was opening up but faced a number of regulatory complexities, Practus helped clients on a sustainable basis by providing them with effective and adaptable solutions.
Now the company has delivered over 5 million man-hours which is close to 1000 clients and has delivered over $200 million in ROI. From humble beginnings focusing on navigating regulations and compliance, Practus has developed into a globally recognized consulting firm headquartered in Mumbai. Founder and CEO Deepak Narayanan shares the story of Practus and its evolution into India’s first truly global consulting brand.
From Idea to Impact: Practusโ Growth Journey:
Initially established as Wealth Tree Advisors, Practus was originally set up as an organization to make it easier for large global firms to take a position in India’s business ecosystem. The founding team of Deepak Narayanan and SVenkat saw an opportunity based on their global consultancy experience to create what they believed was an obvious void. The company operated in that capacity until 2010 – 11 when they chose to go in the opposite direction and look inward to see how they could assist Indian companies with performance enhancement and accelerate their growth.
Leadership Philosophy: Leading With Empathy and Equity:
Deepak has gained experiences in the early corporate world where he learned values for true leadership. This shaped how he viewed leadership and the culture at Practus where transparency and inclusivity were two of the primary attributes of the organization. Team members readily share ideas and informed opinions; the expectations are clear and collaboration is encouraged and supported. Deepak believes that equity, integrity and empowerment are key ingredients in creating a truly motivating environment.
โSuccess is not only defined by where you get to but how hard you walk down the path.โ โ Deepak Narayanan, CEO, Practus
Doing Things Differently: Practus Gets Paid Only When You See Results:
Practus stand out because they not only ask for money or not just give advices like other consulting companies, they give result-oriented solutions that help in fulfilling clientโs need and only ask for full payment when their approaches became successful in clientโs satisfaction. This means they guarantee genuine results. Their clientโs success also benefits them in a great way so they work harder to achieve results. Practus also use technology but they focus more on people, their needs and practical work.
Strong Leadership in a Changing World:
In the era of complexities, rapid changes and confusion, a person can become a good leader only when they follow the path of honesty, transparency and fairness. These factors help companies in building credibility and good future. To become a good leader, it does not mean that one has to plan smartly, it means to set good example every day. At Practus, they not only just talk about values but they follow them. This helps companies stand out in a complex environment, boosting visibility, building trust among customers even in the changing world.
Balancing Todayโs Goals with Tomorrowโs Vision:
Deepak thinks growing a company should mean keeping in mind what it actually stands for. At Practus, every day decisions are made while keeping the big futures plans in mind which will benefit the company in a great way. This helps the company to grow step by step, reach long term goals plus sticking to its original values at the same time. It is a smart move to move forward without losing the thought of what truly matters.
Putting People First During Tough Times:
Deepak believes that at the time of crises, aย leader should focus strongly on their organizationโs members, their inner staff because the most important part of a company is its people. Thatโs why Practus spends more time and money on its employees so that they can learn new skills and take care of their well-being. When the team is happy and satisfied, they work well for the company and its clients. This client-first approach helps the company to become successful even then things get tough.
Standing Out- A Commitment to Real Outcome:
What truly sets Practus apart from its competitors is its outcome-first mindset. Every engagement is evaluated not on activity but on outcomes. Practusโs consulting methodology exists to create real change for clients. Disrupting the norm of fee structures to performance-linked compensation builds trust with clients and demonstrates their longstanding commitment to sharing in their client’s success.
Smart Technology and Smart Humans- A Unified Approach:
As much as technology has transformed business, Practus is clear about human skill as the focal point. Technology is an instrument not replacement. Deepak further adds technology enable scale but real results are provided by the teamโs market experience and subject-matter expertise which actually solves real problems. Practus has created a balanced structure that champions innovation with human thought and creativity provide sustainable value for clients experiencing digital change.
Purpose-Driven Practice- Social and Environmental Commitment:
Practus has always believed in flexible environment and taking care of people around them. From the very beginning, they choose to work without using paper even before it became industry standard. They also run supporting programs like feeding hungry people and help poor children go to school. All these efforts towards the environment shows that the organization wants to grow while doing charity and showing kindness for people all around.
Diversity Matters- Creating an Inclusive Culture:
Practus strongly believed in diversity and working with team members from different backgrounds. They have around d 38 percent women in the team because they hire people for their talent and skills and not to just fill numbers. By choosing skilled and deserving people, Practus fosters inclusive, diversity and a healthy work environment which makes employees feel valued and respected and also helps in companyโs success.
Based on Core Values- The Practus Way:
At Practus, all decisions are guided by core values including teamwork, using technology, using data and collaboration. These are not just phrases, they are how the company really operates. Deepak thinks itโs important to develop a safe, respectful and supportive working relationship where people feel comfortable sharing ideas and are able to do their best work for the companyโs success.
Awards and Achievements- Why Practus Stands Out:
Practus has been known as a Great Place to Work for three years. This is the evidence that the company respects its members and workplace culture. From taking care of employees to finding out new ways to work, Practus received a number of awards and recognition for their dedication to work, this shows the company is committed to its long-term growth and work excellence.
Learning from experience- What the Journey has Taught:
Reflecting on his journey, Deepak has seen how failure has taught him the most. He feels that patience and resilience are essential qualities for anyone launching a business. All the challenges he faced ultimately made him stronger and smarter. He has learnt to keep moving forward with a positive mindset even when it gets difficult.
Advice for Young Leaders and Key Takeaways:
Deepak offers honest advice for future entrepreneurs: don’t expect to be successful overnight. Real success only comes from hard work. And he also reminds young thought-leaders that when something is an โovernight successโ it is often a result of years of work. It’s about continuing to learn and having a focus on building something that has real meaning.
Also Read:ย Medicuality Under Dr. Savithaโs Leadership: A New Era in Hospital Care
Conclusion
Practus has a bold vision that is to be a billion-dollar consulting firm by 2030. But to in part, change the world’s perception of consulting with India at the forefront of that change. Practus envisions a world that innovates through collaboration and that ultimately brings businesses together to grow with India being a huge part of that success.
