This article features entrepreneur, Nikhil Verma, President and CEO of Holovision Inc., an electronics manufacturing and assembly company focused on the home automation market based in Santa Ana, CA.
Nikhil is an experienced entrepreneur who, in the past 14 years, has purchased three companies and sold one. Prior to embarking on a path of entrepreneurship, Nikhil held positions in sales and marketing in the semiconductor and software industries for companies such as Conexant Systems, Siebel Systems (now Oracle), STMicroelectronics, and Texas Instruments. In his previous role, he managed a $45M sales territory in the Southwest U.S., including a team of inside sales, technical applications engineers, and manufacturer’s representatives. Nikhil holds an M.B.A. and a B.S. in electrical engineering, both from UCLA.
To share some of his professional experiences and offer advice to UC Irvine student entrepreneurs, Nikhil recently sat down for an interview with Ryan Foland, Director of the ANTrepreneur Center.
Ryan: Ahoy Nikhil! Thank you for taking the time to chat with me. To start us off, can you walk us through how you transitioned from a college student interested in entrepreneurship to the CEO of a successful company?
Nikhil: Happy to be here, Ryan. When I think back to my undergrad years, like many students, I had a notion of startups and IPOs and being an entrepreneur. However, I didn’t really understand what all that entailed, as my dad worked in large corporations and my mom was a teacher. When I started working and got my M.B.A., I understood it better and realized that it was a path I wanted to pursue. I didn’t have a great idea, but I was confident that I could use my sales and marketing experience and my M.B.A. to run and grow an existing business. So I pursued that path and have been doing this for the past 14 years!
That being said, I would say that it is important to get some experience before jumping in and buying a company—I learned so much at the large companies that I worked for, including processes, leadership skills, and the nuances of sales, marketing, and managing employees. It would have been very hard for me had I not had the experience that I did before I struck out on my own. My experience also gave me confidence to overcome the ups and downs that ALL businesses go through.
Ryan: You’ve definitely shown that buying an existing business is a viable entrepreneurial path. How can this perspective benefit aspiring entrepreneurs who may not have a startup idea yet?
Nikhil: Buying a business is a great way to become an entrepreneur. It’s a rarely talked-about path. Everyone knows the Google, Facebook, Apple, and HP stories. However, those aren’t the only ones. Obviously, not everyone is Elon Musk, Steve Jobs, or Mark Zuckerberg. But that doesn’t mean that you can’t be an entrepreneur and be successful. The important thing is to know yourself and find the right path for you.
Ryan: As someone who’s excelled in sales and marketing, what tailored advice would you offer to early-stage startups?
Nikhil: Know your customer, know your market, and be focused. As a startup with (by definition) limited resources, you cannot be all things to all people. It’s important to understand the customer and the market you are going after and meet their needs so that they are happy and continue to buy from you.
Ryan: On the topic of advising startups, what made you want to pursue mentorship, and how do you manage this passion alongside running your business?
Nikhil: Like I mentioned earlier, I wasn’t really exposed to entrepreneurship through my family growing up. When I was in business school, I heard a talk from someone who bought a business, and he spoke about that path to entrepreneurship. I had never considered that before, and I was intrigued. Fast forward to now, and that is the path I pursued all thanks to a talk I heard many years ago. So I want to pay it forward to the next generation of entrepreneurs, particularly the student entrepreneurs at UC Irvine.
UC Irvine is a great school and is local to my work and home, so I’m happy to help. Balancing my business with mentorship is all about time management and focusing on the task at hand. And it’s worth it to me because I love meeting new people and hearing new ideas. Who knows–I may be inspired by something I learn from UC Irvine students. To be successful, it’s important to keep learning and stay curious, and in my opinion, this is a great way to do that.
Ryan: What are the vital skills that UC Irvine students should cultivate to thrive as future entrepreneurs?
Nikhil: Be curious, keep learning, and understand yourself. All of us have things we are good at, and all entrepreneurs need to understand their shortcomings so they can surround themselves with the best people to fill the gaps in their skill sets. Entrepreneurs can come from any major or walk of life, but all entrepreneurs need to solve problems with limited resources and (sometimes) limited information.
Ryan: What key takeaways have you gained from CEO support networks that could be significant for UCI students and emerging entrepreneurs?
Nikhil: Being a CEO is a lonely position—the buck stops with you, and the ultimate decisions have to be made by you. It’s awesome to have a peer support network that you can bounce ideas off and to have people who can give you honest feedback, even when they tell you that you’re wrong. I would encourage all entrepreneurs and business owners to look into this as you move forward.
Ryan: Finally, how do you apply the principle of ‘lifelong learning’ to actionable advice for UCI students aiming to navigate the tech industry?
Nikhil: Like Ted Lasso said, “Be curious, not judgemental.” Be open to listening to new thoughts, new ideas, and new ways of doing things. The tech industry is changing every day. The ‘right’ answer today may not be the right answer tomorrow, and companies constantly have to pivot, change plans, and develop new products and technologies. You can’t do that if you’re not open to change.
For more information about the UCI ANTrepreneur Center and how we support the undergraduate entrepreneurial journey, including programming, speaker series, micro-internships, funding, and more, visit our website. You can also learn more about our valuable collaborations with Blackstone LaunchPad, Tech Coast Angels, Tech Coast Venture Network, OC Startup Council, SoCal Celebrates Entrepreneurship, and follow us on Facebook, Instagram, Twitter, and LinkedIn.