Dr. Velumani On Building ₹5000 Crore Business, Poverty, Risk & Success | FO174 | Raj Shamani

poverty gives you power to take decisions was fortunately poor and was fortunately born in a village I lost my wife on the day when I had gone to list my company when I went to ring the bell in the National Stock Exchange I did it alone I lost my wife for pancreatic cancer just 50 days before my IPO and she was the backbone behind my entire journey and losing her was like you know scaling the Everest with your best companion and only 50 more M left out and you see left the I thought I must sell the company and go and relax bana is episode personal favorite story entrepreneur comp H and major problem L zer 100 episode entrepreneurship opportunity growth business because I tell you will know the episode is with Dr veu Mani of thyro care please enjoy the show before you do that rajani Clips or Raj shanii shs enjoy the show up exceptionally good Storyteller or apart from that thank you so much thank you it's an honor finally we are there yes the first thing for 1% people beginning was fortunate poor mhm fortunately poor and was fortunately born in a village okay these two combinations are the kak cocktail M to give a background why did from where I have got my strength okay Atomic research centered officer post government of India most premium [Music] research something is wrong res or 27 chalaya one man then one more second was my wife as employee then 4 then 8 then 16 finally I have employed 25,000 freshers in my organization in 25 years of Journey 25,000 freshers okay India cheapest in healthare or1 billion Market exit 2021 June and with that feeling you were fortunately born in poor family and in village success in life is Delta okay Delta is X2 minus X1 [Music] [Music] X2 number one poverty gives you power to take decisions example problem brother if you have mastered your life in no resources living life with low resources is luxury my father was neither an employee nor an employer he didn't have capabilities to work okay and he didn't uh realize that children need to be totally cared for let me tell you here because I was poor I was not pampered and the Pampered child has no capability a parented child lot of capabilities PhD lost acknowledg I thank my parents forgiving me nothing except freedom is very powerful one parents they give everything other than Freedom true so I was again though illiterate parents they trusted me I became a head of the family at an age of 10 because I'm the eldest I have to take care of family my father wasn't truly understanding what are all the responsibilities okay question Freedom when you mean you were given freedom meaned and I because they felt I'm making sense I don't know from where my mother was truly totally trusting me she felt uh father is not able to lead it you please take care and I think uh that's the single largest strength today if I have to took all decisions for last 50 years I'm 64 65 so did you start making money is this the reason or I think I still remember that was my first time I have worked for making money at what age it was at an age of 11 at an age of 13 one rupe per day cotton plucking in the hot sun month is May summer I to pay fees in June and then that's the leader of the family right so it was earning also from then onwards I don't think I any summer vacation I had a vacation anytime in the evening from 4:00 5:00 onwards do some part-time job I think I have worked let me give you another punch line 7 to 11 was the heaven 7 a. to 11 p.m two questions on that quick uh one do you let me tell you in a pyramid of economy make 10 slices h I was in the bottom of s what is there but let me also tell you there are two kinds of people this is another punch I am only suffering all others are enjoying I am only enjoying all others are suffering I always felt I am only enjoying in Imagine you have opportunity to relive your life which portion of it you will [Laughter] change first class okay coming back to the story up again or still I got 200 out of 200 in mathematics 200 out of 200 mathematics I was a beom students for one full month one full month yes Dr K Prof he no [Laughter] wow wow so 19 years BC first class enter Factor do you have experiencee interview it's almost like sitting in front of a girl whom you are likely to marry and asking her so irritating is the question so 1978 trust me I have never recruited an experienced man into my organization really 25,000 freshers I have employed I don't think anybody else would have dared to do it and I have done it and trust me competitor employee cost 25% employee cost 10% if you yourself have trained your employes [Laughter] yourself if you don't love your spouse your neighbor will if you don't love your employee your competitor will take care so was a little disappointing experience for me fortunately fortunately fortunately fortunately August 18 1982 kanyakumari to Mumbai jti janta Express boarded it in katur S9 coach birth number 41 and I land in Mumbai like a dawn with 500 rupees in my body body because if you keep in Pocket pick pocket and I stayed in V railway station for three nights because there was no friend to receive me with a smartphone and there was no credit card to check in in any hotel nor there was a Pur to keep credit card so that's how I landed in Mumbai and I came to Mumbai Baba Atomic Research Center 3 hours believe me um number luy very very important because you can't always tell that may scien everything sometimes luck Lady Luck smiled me Lady Luck yeah because otherwise how I how will I get that job government job GED officer post most premium Research Institute wow so now has a good salary and he is in Mumbai life looks bright and uh subsequently uh as soon as I landed in Mumbai my father-in-law was in love with me father-in-law he was in love with me that means he arranged marriage okay okay there are only two ways in which marriage goes through one is uh father wife girl herself is in love with me or her parents have been in love with me right true so he came within one year of me joining and proposed he was a security officer in BRC I was an employee there in BRC I refused 83 I refuse 84 I refuse 85 also same proposal comes same man comes then I thought let me have a look at the girl so I it was uh you know all illuminated so I look fair that house was not properly illuminated and I found the girl not impressive enough and my mother will not like I know from my mother's angle what is the beauty daughter-in-law then I thought I will not tell anything now I said I'll let you know oh yeah I didn't go back okay so you just work he keeps again walking I was staying in a marrian family as a payest so I told my land lady even if I am inside if this gentleman comes tell him I not there m five times he managed sixth time they told no he is persuading like this you must tell him it will not work m then I sat in front of him meeting he told yes I will arrange Point Madame g Road State Bank of India 14th floor international division my wife was working so AR on a Saturday it was half day so we I was there by 2:00 60 Minutes 55 minutes I only talked okay and 5 minutes absolute silence was there I decided I must marry [Laughter] her want to know what I have talked to her in 45 minutes what I have talked I can tell you in 4 seconds tell me look okay I don't think any insane girl will agree s didn't tell yes no nothing absolute stunned look and I left safe I am very safe my father-in-law came to my home that means she has agreed is yes she has said yes and I must tell you [Music] here before marriage I asked her she said thra very powerful very powerful right this very important that expectation is the biggest problem for all diverses and resignations as a reason unwanted expectation so then we got married and that's how the story of how did I find a wife and subsequently then two children and then uh there is a little more interesting here which I want people especially employees to understand how as an employee you can build a huge career h join then off what is the what is what does it mean is a blind man I worked under a blind man for 15 years very nice gentleman your boss boss is no more but was a very wonderful man uh m why not please he had a connection with people in rank and file of BRC and B and bombai University he made sure I got registered for MSC under uh research on thyroid biochemistry okay 3 years I finished my MSC while working a good work do you want to do PhD AR and trust me today I am MSC PhD very powerful scientist and entrepreneur only because I agree to work under a blind man and trust me I don't know where it is trust me he here comes the most powerful punch line in 1982 I did not know where thyroid was and in 1992 I finished a PhD in thyroid biochemistry in 2002 I'm running world's largest thyroid testing laboratory 20 years the punch line Starts Now if you do what you have studied if you do what you have studied you will survive but if you do what you have not studied you will be the leader right I'm the leader fil Training Institute you are good at something you were study you did it because of your parents compulsion because some fantasy but then finally what are you good at if rajanand is most powerful hero even if today amab ban or even if you take whoever is draid or whoever it is it is the intelligence that makes them most powerful whatever they have done they would have become what do you do is not as important as how do you do so that is how the Journey of me entering in thyroid and a PhD so has is 37 years old now M 37 yes and then two B my son was five my daughter was three h [Music] right next one [Laughter] the risk that was very clear to me and there again there are two kinds of people this is one category this is another way of looking at I looked at like like that and there is a saying in Tamil I will first tell that in Tamil because you know my audience are plenty across the world which says ay which ISS risk M take a risk so my mind said I must now uh take some kind of uh risk one Friday office I go in the morning after lunch I open my drawer and I saw my pass book and passbook had 2 lakh rupees closing balance 1996 2 lakh rupes closing balance is equal to today two CR I'm talking about 30 years back 1996 27 years right right 2 lakh rupes my monthly expenditure was 5,000 so what is the number of months my family is safe 40 months tick number one because I have an advice to all entrepreneurs you can take your risk you should not take your family's risk you're not entitled to true so 40 months family safe three and half years right hand side colleague left hand side colleague so number one is uh 40 months safe no EMI number three my wife is working with State Bank of [Laughter] India I have resigned on a Friday evening and went home I did not discuss with wife to take this decision you took it without telling her that's how the punch line came in life either you can discuss or you can decide you can't do both because once you discuss you cannot [Laughter] decide so I went home rco [Music] I told her I have resigned and she looked at my eyes and she said and I told her you also don't go I will also not go trust me we both left job on the same day biggest risk sometime the title of my my talk romance with risk right we then reset our life and then my C didn't go to office from then M I already had put in a resignation and came and she was my first employee right for every successful man the wife becomes the secretary and for every failed man the secret becomes the wife [Laughter] OU [Laughter] ouch so uh see and me started so that's about the transition but this is very very important yeah otherwise people will get confused increment promotions conference that means I have Advantage I can disrupt so this insight about thyroid reent cheaper was the main reason for me to take such a tough decision very very important because the leader only knows how my father-in-law will know about it how can I convince him on this so don't discuss if you know what it is take I also want you to uh note here when should I discuss and when I should not discuss because everybody should not think you know take that decision if you are depending upon on the mercy of your wife father or father-in-law you can't take decisions without discussing and if you are independent I will manage this is very important otherwise people should not get confused so I had an advantage I did a PhD in thyroid and I put the name thyrocare that was a very brilliant way of making a logo with a thyroid lobe and thyro care and trust me I focused so much so much on thyroid my competitors thought I'm an Android a few business points which I want the entrepreneurial Community to keep in their mind what w did was not PC SAR jba it's an intelligent innovation of a system which was not organized overpricing fair business there is nothing wrong but only thing is50 test 120 10,000 to 90 so don't punch line here if the costing is wrong pricing is wrong so you have to get the pricing only after understanding the wanted local man talking local language local culture so I called guys and told themo that fellow fell unconscious within no time all his friends girlfriends boyfriends their spouse and their boyfriends everybody become all over the country franchis concept those and um the next one is I have made a uber before Uber name itself was not there until Uber came into the country taxis were standing for 20 hours running for 4 hours H now they running for 20 hours standing for 4 hours until I came into picture thyroid testing machine was only running for 2 hours in a day today they run 24 hours many liar Right Punch Line a standing Meine is a liability and a running so this is power I have created a uber concept I have created a mcdonal concept H but is that not franchise alone okay McDonald doesn't give you masal DOA it only gives you Burgers yeah I don't do diseases I only do disorders difference disorder comes doesn't go disease comes injection antibiotic it goes dis diabetes thyroid arthritis chicken malar once patient lifelong patient and all my competitors were other side I was the only guy here and no one was here and I I I didn't do these tests I think you know what is the power of a man refusing work refusing work yes refusing if you if you if you give all all customer wants you are running a grocery I wanted to run a cake right so these are all again I said McDonald I have done an Amazon Amazon BL test home home of the patients are served at home you book in my website next morning 8:00 my man is at your door why Amazon home delivery collect samp right so why do number of things I have done and done in such a way that you know I can't imagine in the entire world India is cheapest in healthare and in entire India I am the cheapest it my balance she it has 40% margin that is it optimize optimize you know one [Music] thing optimiz optimiz so business is nothing but keeping the price low controlling the cost so that's the background of that business uh uh model business Direction and then I never went and pitched to any investor because I did personally I have never borrowed company has never borrowed never never That's The Power of Journey in medal field no one opens the syringe before the patient opens the purse this is known as customer funded business not a fair thing mod never copy the exceptions right jerber [Music] [Laughter] degree concept ideas are like sperms only one in a million works okay we should come back to your idea now no no let me tell you best quality highest cost they will buy only that anything cheaper they will not [Music] buy better quality cheaper rate there is a crowd for that better quality and cheaper rate best cheapest sorry best costliest better quality then there is a price for [Music] that there is a crowd for okay question marketing I'll tell you one thing so I a price was low B because my price was low my competitors become pered and my competitors went and did marketing for me you know how do you know thare he doesn't do the test he didn't know what is who is marketing wow but having said that let's say you are making fairly decent business fairly good quality you will tell all your wellwishers word of mouth goes very fast yeah and that's how it went through what do you think three businesses in India which can be disrupted today given the kind of growth we are having given the kind of money that the country is is making given the industries and technology which has already been there what do you think what are the three Industries which has massive it's not three it's not 30 3,000 Industries are there give me top three what do you feel I get got these two idea which I wanted to do I have still not done okay one is if you take th000 goats put it in an island which is sufficiently some 400 Kil Square k M thousand goat Goats No wild animal there you leave there and you come [Music] out after 10 years you go there how many goats will be there million leave th goats 10 years there will be million goats calculate the C 100% every year it grows you sit and me this is this is wonderful business you know one thing M cheap chicken costly mutt is, rupees kg chicken is 250 200 rupees kg only because somebody scaled up chicken business no one scaled up mutt business understand what I'm talking yeah you can sit and I I can forward you one Excel seat which tells how thousand becomes a million I wanted to about to start it my children told me you don't do it I ask why now if you do this you will get in capital don't do it true I didn't do it anybody can do it and this is doable number one number two what you need is a grid grid grid G okay transportation system where wherever it is cheaper it is Cly simple like that there are lot of things everywhere you can do disruption pick up four sweets pick up four seies only eight item focus and create a brand you'll become a billionaire just four just four you mean pick up let's say just one L or like two whatever list the S top four list the top it works sa too many things if you make you not an identity understand what I'm talking so this this kind of ideas are possible to do these are not disrupted adequately but having said that uh Airline is now getting disrupted Telecom cannot be disrupted because a licensed you can't anybody cannot get into Telecom wherever there is no entry barrier there is still still room is there for to disrupt disruption inside cost control disruption but Main or important freshers yes why fresher like I got the L I want to learn I'm very curious next for job everybody wants experience but they only get freshes but for marriage everybody gets experienced so this is the problem in the society having said that I already said a 100 days trained man is equalent to th days trained by competition your own man you train specific 100 days now you need to keep an assembly line on what is assembly lineally trained so this assembly Lane once it is there the senior most man you can allow to go every organization has got underp assets and overpaid liabilities punch line what is that underprice asset underpaid assets assets overpaid liabilities so how will you get rid of liabilities if you don't have resources to replace okay let me tell you this is very important for entrepreneurs to understand an employe needs stamina discipline intelligence Focus M1 evaluation remove stamina less the second one is discipline uh uh coming in time going in time sitting and not gossiping anywhere uh very good employee so discipline discipline q1 M1 q11 the third one is intelligence you are only the problem not the employee so year one you remove the guy who is not intelligent after five years you remove the guy who cannot focus you can't find out focus on the first month understand what I'm talking yeah so we kept on adding people removing people 25,000 people 2500 you know one thing what my people loved in the entire 25 years s has never brought anybody from outside above us this the most powerful motivation in any organization and the big problem I have noticed a couple of times I have accommodated and taken someone afterwards I have sent him so I think in your own organization don't tell me all employees have the same intelligence true that's it people became entrepreneur out of force out of situation today I'm telling you what is the problem this is very important I'm going to drive using my social media handle there are two kinds of people one is pampered another is parented pampered should not get into business parented only should get into business you think pampered cannot build business they can't learn to build a business no why because they don't know the reality because daddy mmy daddy daddy mmy mmy daddy mommy or those servant and all were trying to help him he only have learned to get help he has never known to do help okay last last part my wife lost your wife okay okay on the day when I had gone to list my company M 2016 May when I went to ring the bell in the National Stock Exchange I did it alone I lost my wife for pancreatic cancer grade four just 50 days before my IPO and she was diagnosed to have that problem only 50 days before the death so only 100 days it's over that was a huge shock for me I also said she also left her job she killed her identity to make sure I win so most powerful lady who was silent who was never recognized as a co-founder and she was the backbone behind my entire journey and losing her was like you know you are uh scaling the Everest with your best companion and only 4 M left out 50 more M left out and you she left the hand she was the one who made me MSC PhD she was the one who made me scientist and entrepreneur story tell she was the one who Tau me and losing her was a very big frustration I thought I must sell the company and go and relax so the decision to sell the company was taken in 2016 when I lost my wife and then if I go and Pitch to someone I want to sell it I may not get a price I from Village I have learned if he comes to you your value is 1.5x if you go to him that is 5X they patiently waited then Co game the co first private laboratory PCR testing list first list first so I got a very powerful attention of the market lot of Co covid PCR business and my turnover per day was 1 CR it became per day 2 crores my share price was 450 it became 12200 and that time somebody was interested in my stock and I thought I must uh move out I got the best price I got a billion dollar market cap and I just sold it so the reason to sell was not only that I lost my wife I also felt yeah mad race that's number two number three those days employee was thinking employer is God that andal is gone today employee employee employer and then today's customer experience is something which they are comparing our with don't understand and I a very powerful motivator and Stage I thought so far I was directly creating employment let me now motivate entrepreneurs and make them to create employment so I am now totally free I go to stage and I enal people and motivate them my story I tell they get a lot more ideas every talk of mine for 1 hour on a stage gives raise to th jobs that's how I am now into a totally different mode and P coffee and my children were not very keen to run it they said Dad until you are running it we will support you we don't want to run it and I read a book somewhere if you love your children give the money not the [Laughter] company that's how I exited and I'm very happy that I have exited no regrets so I think if somebody has to give a award in a stage the best exit award it will be me only there is no competition well amazing thank you so much sir thank you so much I hope you enjoyed every punch of what you didn't expect will come suddenly but then um I'm not your competitor but I I believe that your value [Laughter] money thank you so much I really enjoyed long God bless you wish you a long journey impactful journey transform people make sure that they understand what not to do there are only a things which which you should not do and there are infinite things which you should you can learn and do and these things we must teach people and so I keep telling people make mistakes make all mistakes make them very fast but don't repeat if you do every day a new mistake you are you are going to be a billionaire you do the same mistake every day you are going to be a begger [Music] [Laughter] soon good so yes uh we will meet in many forums yes I do keep traveling lot of uh and if there are people who let's say who think maybe they can be a potential entrepreneur how should they reach you focus. at gmail.com focus is a word I allow to focus. gmail.com thank you so much episode B until the next episode keep figuring out and don't forget to [Music] subscribe

Channel: Raj Shamani

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Keywords: raj shamani, shamani industries, figuring out with raj shamani, inspirational, india, figuring out, raj shamani podcast, hindi podcast, indian podcast, english podcast, motivation, indian startups, success, podcast, figuring out podcast, latest podcast, dr velumani, dr velumani thyrocare, dr velumani interview, dr velumani speech, thyrocare, poverty, 500 to 5000 crore, risk, rags to riches story, 5000 crore exit, thyrocare success story, business ideas, business, thyrocare founder

Id: zZ-VeqYPxoA

Length: 66min 15sec (3975 seconds)

Published: Sat Mar 09 2024