The capacity to assemble high-performing teams is crucial for any leader looking to achieve success. The correct fit must be determined, methods and objectives must be defined, and growth and learning must be prioritized. Just like Megha Bajaj, the Vice President of Dot & Key Skincare, who believes that providing mentorship and coaching as needed and, most importantly, empowering the team members are essential for creating a cohesive team.

After graduating from IIT Kharagpur with a degree in engineering, Megha joined Barclays Capital's technology business in Singapore. Working for a global bank for over three years piqued Megha's interest in business and finance, and she ultimately opted to pursue an MBA. She earned her Master of Business Administration with a specialization in Financial and Operations Management from ISB Hyderabad in 2015. Soon after, Megha started working at Citibank, where she was immersed in the daily struggles and financial needs of small company owners. For Megha, this was a tipping point since it was then that she became interested in entrepreneurship.

Megha honed abilities including team management and leadership, growth strategy and plan execution, rapid decision-making under pressure, and, most crucially, the ability to roll with the punches of changing circumstances. Megha then went on to launch her hyperlocal startup, a supermarket delivery service, during the difficult COVID era. Megha now holds the position of Vice President at Dot & Key Skincare.

Engaging in an exclusive interaction with Women Entrepreneur magazine, Megha spoke about her leadership journey and the milestones she has achieved so far.

Tell us about the various responsibilities you shoulder as the Vice President of Dot & Key Skincare. What are the primary focus areas in your current role?

I am responsible for Dot & Key's entire business development and expansion strategy. We want to stay ahead of the competition by adapting our business strategies to the ever-shifting marketplace, whether it means introducing new products, adjusting pricing and packaging, or exploring uncharted market niches. My role requires me to wear several hats, from overseeing daily operations to driving long-term strategy. I manage the P&L and work to improve the company's bottom line by cutting costs in the areas of advertising and operations.

In addition, I am in charge of the marketing strategy, which entails locating and pursuing the most ideal clients by employing the rightest channels. Maintaining a positive ROI across all channels, tailoring communications to individual customers, and raising brand recognition through novel content. Furthermore, I oversee the customer success team, whose main objective is to learn from customers' behavior to improve the company's operations and performance. An important part of my role is to analyze data and identify process bottlenecks so that we can eliminate them.

What are some of the most pressing challenges that you encounter in your current role? How do you successfully mitigate these challenges?

To 'remain relevant'is one of the greatest challenges we confront every day as professionals in a rapidly evolving field. Competition in the direct-to-consumer market is gaining steam, and client preferences are always changing, making it difficult to distinguish. Given the volatile nature of the market, success requires an eye for detail, a hunger for knowledge and new ideas, and a willingness to take calculated risks in pursuit of objectives. Focusing on the big picture and long-term objectives might help you avoid becoming mired down in day-to-day operations. When dealing with uncertainty, we at Dot & Key do our best to maintain focus on our mission.

“I consider my evolution into a leadership position to be the most important milestone”

In your opinion what are some of the most significant milestones that you have achieved throughout your professional journey? What has been the driving force behind your success as a professional?

While there are numerous milestones in my professional history that I am proud of, such as meeting or exceeding growth and revenue goals and launching new product categories, I consider my evolution into a leadership position to be the most important. Looking back, I see that taking the entrepreneurial leap and accepting the risks and pressures that come with it was a pivotal choice that helped define my career.

Drawing from your experience as a business leader, what would your advice be to young women and girls who also aspire to become business leaders and entrepreneurs in the future?

Women often assume that they must choose between their personal lives and their work lives, making it difficult for them to strike a balance between the two. My advice to all young women who want to be leaders is to be ruthless with their time at work and not let anything come between them and their professional success. Take chances and trust in your own abilities. My advice to all young women is to never give up. Keep persevering until you achieve your goals.

Megha Bajaj, Vice President, Dot & Key Skincare

Megha completed her mba in finance and operations management from the indian school of business in hyderabad in 2015. After working at citibank, she became the city head for urbanclap, a then-nascent start-up. Megha was responsible for the city's profit and loss statement, which is the equivalent of running a small company, as well as the development of the city's income in seven different categories and the supervision of twenty or more workers and five hundred or more service providers.