The Wanderer's Guide Over the past 23 years, the goal at MakeMyTrip has always been to keep redefining the customer experience, says, Rajesh Magow, Co-founder and Group CEO, MakeMyTrip
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Armed with leadership qualities, this CEO has the superpower to turn hurdles into opportunities. The year 2020 was a trial by fire phase for the travel industry which flatlined globally due to the pandemic. MakeMyTrip was no exception as its revenue plummeted during the first wave of COVID-19, however, it was quick to bounce back. But how? "Our contingency plan was sound and we turned this period into an opportunity for our business overall. During the take-ff period of MakeMyTrip, from 2006 to 2010, we already had the experience of dealing with macroeconomic headwinds, from overcoming the dotcom bust, 9/11 attack and grappling with the effects of the SARS pandemic, we by then had enough understanding of the market and a strategy in place to deal with such crisis. So, recouping from the domino effect COVID-19 was a result of our plan of action," said Rajesh Magow, cofounder and group CEO, MakeMyTrip.
Being in an authoritative position, Magow makes sure he fuels the entrepreneurial spirit in his company with empowerment, freedom of decision making for employees and agility in execution of defined strategy. "Setting the tone from the top by walking the talk, helps get the team going. I have been chasing the organisational goals with great teamwork, passion and enthusiasm. We value our team's well-being and development," he quips.
Over the past 23 years, the goal at MakeMyTrip has always been to keep redefining the customer experience leveraging latest UI designs and technologies along with rich data. "We are a two-sided marketplace so innovations take place on both sides, delightful experiences for the customers and assisting supply side partners to help leverage digital revolution in the country. Since 2020, we have introduced new lines of businesses, increased output volume and depth both in the B2B and B2B2C spaces, tightened fixed costs, and expanded beyond India with MakeMyTrip launch in UAE."
Personal development and growth are natural outcomes of business growth as every entrepreneur learns and develops along the way of the business journey. Building a long-term sustainable business is a long-haul journey, "The key is to always stay focused, keep abreast of the latest, be open to learning every day and stay nimble to change to match evolving circumstances," he said, defining his success mantra.
Technology is ever evolving and as a tech-first company, it is imperative to match up with the latest innovations. "In our business, technology change is constant, it keeps you on your toes to ensure that you keep adapting to the latest technology. Generative AI for instance is the latest one which is showing a lot of promise, and we need to ensure that we capitalise on its potential. Equally significant is the dynamic nature of the workforce, with diverse expectations across age groups, necessitating a focus on talent attraction, retention, and development, all while accommodating people's expectations and market trends. Adapting to market shifts is another concern, as the business environment evolves rapidly, requiring leaders to be agile and ready to pivot strategies in response to changing customer preferences or unexpected global events."
To thrive in this era of transformation, the CEO expresses confidence in effective communication, adaptability, innovation, ethical leadership and a steadfast commitment to the well-being and development of the workforce. "A happy team drives our success!"
Factsheet
- Age: 54 years
- Year of joining the current organization: 2000
- Total team size: 3,357 employees as of March 31 FY23
- Turnover of the organization: $6.6 Billion
- Most Memorable Moment as a leader: Achieving milestones along the business journey are happy moments for any leader. At MakeMyTrip, the most satisfying moments were the achievement of milestones that were not just celebrated by the MMYT team, but also recognised by the market, and external forums. Listing on Nasdaq in 2010, merger with Ibibo group with Goibibo and redBus becoming part of the family, becoming a great place to work for 3 consistent years and emerging out of the pandemic stronger than ever before have been some of the most satisfying moments for me.
