"A positive outlook is treating criticism with deference and realising that there is always something new to learn from those around."
Meet Gurpreet Singh Walia, the managing director of Suffescom Solutions Inc. He;s been in this role for more than 13 years, overseeing all of the company’s key activities and results. His primary objective as CEO and Managing Director at Suffescom is to establish strategic planning and oversee its implementation.
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We are thrilled to have you join us today, welcome to ValiantCEO Magazine’s exclusive interview! Let’s start off with a little introduction. Tell our readers a bit about yourself and your company.
Gurpreet Singh: Let me introduce myself; I’m Gurpreet Singh Walia, the managing director of Suffescom Solutions Inc. I’ve been in this role for more than 13 years, overseeing all of the company’s key activities and results. My primary objective as CEO and Managing Director at Suffescom is to establish strategic planning and oversee its implementation.
I work hard to become the leader my team deserves since I’m conscious of my impact on their lives. I had a preconceived opinion about the direction the company should go from the start. Together with my working group, I made progress in turning this business into a reputable enterprise.
Suffescom Solutions Inc. combines technological advances to create new capabilities and open up new client prospects. We pledge to develop innovative technologies and reconfigure the world economy to support shared values.
By 2026, we want to be the world’s leading Blockchain technology provider, helping our clients, team members, and partners realize their dreams through cutting-edge services. Our mission is to provide organizations with customer-centric, goal-oriented, cost-effective, and innovative solutions that create limitless opportunities for customer engagement and add value for clients worldwide.
2021 and 2022 threw a lot of curve balls into business on a global scale. Based on the experience gleaned in the past couple years, how can businesses thrive in 2023? What lessons have you learned?
Gurpreet Singh: We have suffered some serious setbacks caused by the pandemic or uncertain market conditions in 2021 or 2022. But every one of these difficulties helped us reach greater heights. We always maintained our optimism, and it always worked out in the end.
Businesses can make 2023 a year of striving and success by adopting the right attitude and deliberate strategy. We all heard that the past two years’ worth of headlines had given the perception that the pandemic is nothing but bad news for business. Increasing margins enables firms to save money, and the accompanying flexibility can spark a growth spurt.
The pandemic seems to keep on disrupting the economy, what should businesses focus on in 2023? What advice would you share?
Gurpreet Singh: COVID-19 has unexpectedly struck all of us. Various organizations discovered they needed to be more adequate and rushed to implement multiple technologies to keep things moving.
The pandemic may have blotted the slate of our carefully planned out strategies, but we’ve also gained priceless experience. We assembled our executive team and applied the insights to adapt our business and operational strategies to the new paradigm.
I advise all businesses to stay updated with emerging market dynamics and potential expansion areas.
How has the pandemic changed your industry and how have you adapted?
Gurpreet Singh: The pandemic greatly impacted many businesses, and our industry was not out of the league. 2020 was a difficult year for our company to operate globally due to the sharp decline in the market. But because of our staff’s unwavering effort, we were consistently able to pull off that year.
It’s fascinating to observe that the lockdowns and quarantines that hindered other industries did not significantly impact the IT sector. Businesses started implementing remote arrangements as the world in 2020 moved into lockdown. While this increased business for IT firms, it also increased the importance of software management solutions. A sudden spike in software development and cloud use indicates that more money has been invested recently in these technologies.
The recent pandemic has been overcome, and we have developed new strategies for getting stronger each time. To deal with the effects of the pandemic, our company implemented a variety of business tactics, such as remote work and management through disruptions.
What advice do you wish you received when the pandemic started and what do you intend on improving in 2023?
Gurpreet Singh: Along with some beneficial pandemic effects, we observed a substantial fall in sales due to travel restrictions, social isolation, limitations on selling specific commodities, and consumers cutting costs and postponing projects. I wish we knew how long this time would flow. We were unprepared for this as it took much more time than we all expected. If we had been aware of this, we might have shifted our work accordingly, which would have saved our time and effort.
But, my discussions with our dedicated staff helped me create the roadmap for our long-term goals that will surely have a great impact in 2023. We will continue our work process and achieve our goal of being a global blockchain provider till 2026.
Online business surged higher than ever, B2B, B2C, online shopping, virtual meetings, remote work, Zoom medical consultations, what are your expectations for 2023?
Gurpreet Singh: Somehow, working remotely or doing virtual Zoom meetings was necessary during the pandemic. However, working too long virtually affects our performance while keeping us isolated for too long.
I expect that people will indulge more in physical work activities and start working back from their workspace, increasing their effectiveness and keeping them away from their screens for more time.
How many hours a day do you spend in front of a screen?
Gurpreet Singh: It’s exciting and tough to run a business. I’m constantly learning new strategies for business growth. Mostly I spend time with my management team and working on planning for the coming years. And that requires a lot of work that’s not limited to screens. So, there’s no limit to screen time in my case.
If we take into account the constant meetings, in person and on video call, it’s hard to pinpoint the exact time I’m on my computer. Let’s just say, it’s a significant number of hours.
The majority of executives use stories to persuade and communicate in the workplace. Can you share with our readers examples of how you implement that in your business to communicate effectively with your team?
Gurpreet Singh: “To execute more work, interact in one location.”
I enjoy being part of my team while conducting more effective team-building activities. I consciously strive to interact with my team and engage with them. I build strong relationships among my team members and foster an atmosphere where everyone feels valued and heard. It involves communicating in a way that enables your team to achieve its objectives.
Business is all about overcoming obstacles and creating opportunities for growth. What do you see as the real challenge right now?
Gurpreet Singh: Again, if we talk about the Covid-19 pandemic, it showed unprecedented challenges that changed the innovative market landscape. For me, the biggest challenge for any business is the increasing security threat. The increasing Quantum computing speeds up efficient attacks against cryptography. Still, we are investing in cybersecurity solutions to reduce all the risks, but this threat continues.
Another major concern is the increased demand for sustainable technology while a high talent shortage exists. With the increase in emerging digital technologies, the company needs more talent to create and maintain such technologies. We are continuously searching for more talent that helps us reach the top of the emerging business and tech trends.
In 2023, what are you most interested in learning about? Crypto, NFTs, online marketing, or any other skill sets? Please share your motivations.
Gurpreet Singh: To be very honest, I keep learning new things every day and keep myself updated with emerging technology. My team helps me by giving daily updates on each technology that help me prepare for greater business uncertainties.
For my business growth, I must stay in touch with all the leading technologies like Blockchain, Metaverse, Web3, Cryptocurrencies, and much more.
A record 4.4 million Americans left their jobs in September in 2021, accelerating a trend that has become known as the Great Resignation. 47% of people plan to leave their job during 2022. Most are leaving because of their boss or their company culture. 82% of people feel unheard, undervalued and misunderstood in the workplace. Do you think leaders see the data and think “that’s not me – I’m not that boss they don’t want to work for? What changes do you think need to happen?
Gurpreet Singh: “The worst leaders avoid taking accountability and responsibility. They reject counsel from others because they believe they already know everything.”
Do we occasionally make mistakes? I think all of us do. But, every leader might want to learn best by asking themselves, “ What could I have done differently?”
A positive outlook is treating criticism with deference and realising that there is always something new to learn from those around. Joining a wide peer group through which you can acquire insight, learn from one another’s expertise, and be held responsible for your choices and outcomes is one effective strategy to expedite your growth as a good leader.
On a lighter note, if you had the ability to pick any business superpower, what would it be and how would you put it into practice?
Gurpreet Singh: I’ll prefer to choose advanced learning. The need for advanced learning helps any business to grow widely in a particular time. This superpower can help me grasp the knowledge of almost all fields that results in smooth plan execution.
It’ll help me stay up-to-date and capable of better comprehending market trends. Even though self-belief is essential, it’s also important to realise that everyone has something to teach you. Whether it’s one of your staff members, a different industry leader, or an entrepreneur in another industry, pay attention to what they say and do because you might learn valuable advice.
What does “success” in 2023 mean to you? It could be on a personal or business level, please share your vision.
Gurpreet Singh: For me, success means a productive evening at home and thinking that I’ve done my part to help someone overcome a problem and move closer to their objectives. Achievement is the conviction that I am on the right path and fulfilling my destiny. It has taken me a while to realise that only a small profit can compensate for lack of motivation and enthusiasm.
Jerome Knyszewski, VIP Contributor to ValiantCEO and the host of this interview would like to thank Gurpreet Singh for taking the time to do this interview and share his knowledge and experience with our readers.
If you would like to get in touch with Gurpreet Singh or his company, you can do it through his – Linkedin Page
Disclaimer: The ValiantCEO Community welcomes voices from many spheres on our open platform. We publish pieces as written by outside contributors with a wide range of opinions, which don’t necessarily reflect our own. Community stories are not commissioned by our editorial team and must meet our guidelines prior to being published.
