Apart from the techniques and know how to become an entrepreneur, it is equally important to get motivated and inspired to become one or continue to be a successful one. This issue is written with the hope that it will inspire one to be a successful entrepreneur. Motivation is needed in every aspect of life especially those who takes risk or wants to, one who is creative and innovative. We all need that nudge to do something great in our life, and through this article, I wish that this will push one to be the next successful entrepreneur. I have selected few inspiring stories of Indian entrepreneurs who started with nothing. These are real stories of real entrepreneurs who have overcome all obstacles to be a successful one. This would be my last article for time being.
G. Ramesh Babu – He was a son of a barber in Bangalore who grew up with one meal a day. His father died when he was 7 years old and his mother worked as a cook to look after the children. The barber shop which was started by his grandmother was rented out for a mere amount since Ramesh Babu was too young. With his mother consistence, Ramesh Babu was able to study till pre university level and later earned a diploma in electronics. By 1989, he was matured enough to run his father barber shop which he started. After working at the salon, he was able to afford a Maruti Omni which he started renting it out. Thus, what started as his passion soon translated into an enormously successful car – rental business. In 2004, he got into the luxury car rental and self-drive business. Since then, there has been no stopping for Ramesh Babu who is now a billionaire. This is a story of a man who made it big in this cut-throat business world all because of his honesty, hard work, humility and some foresight. Despite being a billionaire, Ramesh Babu still goes to his barber shop in the evening after his office. He still cut hair for his loyal customers who come even from Mumbai and Kolkata.
Patricia Narayan – She started her career 30 years ago as an entrepreneur, selling eateries from a mobile cart on the Marina beach, Chennai amidst all odds — battling a failed marriage, coping with her husband, a multiple addict, and taking care of two kids. Now, she owns a chain of restaurants. She started her business with just two people and now she has 200 people working for her. From 50 paise a day, her revenue has gone up to 2 lakh a day now. Her advice to young entrepreneurs is to never compromise on quality and to never lose one’s self-confidence. Her story is the perfect example of how having educational qualifications is not a necessity for becoming a successful businessperson. Apart from setting the perfect example for all budding entrepreneurs, she has successfully established herself as a role model for all Indian women who choose to suffer silently in an abusive relationship.
P C Mustafa – A son of a Coolie who failed in his 6th standard in school to setting up a 100 crore company with just Rs. 25,000. This is a man who decided to become an entrepreneur despite all odds. Born in a remote village in Wayanad, Kerala by a mother who never went to school, P C Mustafa life was saved by his school teacher who helped him not to give up in his studies. Through his sheer hard work, he got through his schools in good marks and made it to an engineering college by getting though the engineering entrance exam. This is a man who till his college never thought of becoming an entrepreneur. All he wants to be was a well-known engineer. After he passed out from the Regional Engineering College which is now National Institute of Technology, he got a job in Manhattan Associates, an Indian start-up in the US. Later, he joined Motorola Company where he had to move to Ireland. After that, he changed his job to Citibank Company earning a lakh rupee. According to him, the first thing when he got his salary, Mustafa send the one lakh rupee to his father who have never seen so much of money in his life. His father paid off his debts and even got his sister married with that money.
The turning point in Mustafa life came when he decided to quit his job and study MBA with his savings. That is when his business inclination started. Together with his cousins, they started a company with 25,000 rupees in hand. With a small place of around 550 square feet and two grinders, a mixer and a sealing machine, the company ‘ID Fresh’ started. The plan was to supply fresh dosa and idli batter. The initial target of the company was to sell 100 packets a day in the neighbouring stores and shops, which will help them to invest and buy more machinery. They did not employ anyone. Mustafa and four of his cousins who are founding members were in charge of everything to do with the business. Initially, the shopkeepers were not willing to keep a new brand. So the technique they used was to gave them a special offer — cash after sales. It is very interesting to know that the profit for the first month was Rs. 400. Fortunately, the business earns profit from the first day but the lesser investment will lead to lesser profit. They decided to invest more – around 6 lakhs rupees with more space, more grinders and more people – employed 5 new people. Thus, the company started to grow as they started investing more every year. They also started to add more products into their business apart from dosa and idli batter. By 2012, the business has expanded to other cities and even to Dubai. One thing that stands out for ID Fresh Company is that they deal with natural fresh food only with no added preservatives to any of the products. The business from producing 10 packets a day in 2005 has grown to 50,000 packets a day with 1,100 employees in 10 years.
Most people think that to start any business, first thing they require is Money! To start any venture the first thing you need is to come up with an idea or innovation. Many have the desire to become an entrepreneur but don’t have the idea. One need to come up with clear idea that’s when the real task begins. To get any financial assistance from any source your first work is to convince them. To convince someone to need to make a well planned business plan like the strategies, marketing, financial projections, brand promotions, locations, setting target goals, etc. Otherwise why would someone on your business when you don’t have a plan? So making a business plan is the crucial part in setting up your enterprise. Only when you’re ready with your business plan you need to approach the investors. It will give them a clear picture of your plan which gives them confidence and makes their job easier to take decisions. Setting up any enterprise is not an easy job. There are many formalities to follow like, registering with local trade organization, pollution controls, different tax registrations, etc. But with the absolution Central EM Registration by Central Government, it has become very convenient for the entrepreneurs to get MSME registration. All you require is AADHAAR CARD, PAN CARD and CURRENT ACCOUNT on your units name. You can directly register online from http://udyogaadhaar.gov.in/UA/UdyogAadhar-New.aspx and take out a printout of UDYOG AADHAAR which would be your MSME license.
Ideas are born in your head, but to make your ideas grow you need to plant it your heart. Once you sow it in your heart there nothing that can stop it growing. Nothing is easy is this world is easy. If everything would have been easy then everyone would have been successful. Success is not just about getting rich; success is all about being able to achieve what you want to do. Success is Choice.
