Dare to Dream success story: This Kerala businessman built a Rs 600 cr business in Tamil Nadu with the help of a Rs 10 map
Amazingly, this Kerala-based businessman built a Rs 600 crore business in Tamil Nadu with the help of a Rs 10 map.
The micro, small and medium enterprises (MSME) need to get out of their comfort zone and find new ways to reach out to their potential customers, believes V Noushad, Chairman and Managing Director of VKC - a footwear manufacturing company based out of Coimbatore. Noushad is among millions of Indian entrepreneurs who found disappointments and rejections in early days of entrepreneurial venture-ship but found a way to overcome the problem instead of surrendering to fate. Amazingly, this Kerala-based businessman built a Rs 600 crore business in Tamil Nadu with the help of a Rs 10 map. The business was originally started by Noushad's father and he developed it later.
Speaking to Zee Business Online at the sidelines of Zee Business Dare to Dream Awards, Noushad revealed that when his company was trying to enter Tamil Nadu market, it approached distributors just like any other company. "When we went to Tamil Nadu, we approached distributors who asked for more margin, more credit and even, discounts...which we were not able to deliver at that time," he said.
Facing a difficult situation, Noushad and his team bought a map of the state for just Rs 10 and studied every single region closely. "We purchased a Rs 10 map of the state, marked all the districts, taluks and towns. We went to every town, visited each shop and showed our products. This continued for one and a half years. It was only after this that we started getting work," he added. The company is now doing a business of Rs 600 crore in just Tamil Nadu - a state it was finding difficult to break into.
Noushad believes that other SMEs also need to follow this approach. "If we can do, others can too," the excited businessman said.
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He believes that the problem with most companies in India is that they work in their comfort zone and do not spend enough time to understand the market. "The main thing is that they should have a dream. Most of the SMEs work in comfort zone. They produce and want to sell the product. They are not spending the time to understand the market," he said, while adding that companies should find new ways to reach out their potential customers.
"Every SME approaches the distributor and stops there. This is a huge mistake. People should be more persistent and aim to deliver the best product to customers at an affordable price," he added.
Praising Zee Business for organising events like Dare to Dream Awards, Noushad said that entrepreneurs need some opportunities and encouragement because there is a critical need of entrepreneurs in India. He added that till now, people are not making full use of the opportunities on offer, which has allowed more foreign companies to enter the Indian market and even dominate it.
"We have technology, knowledge and market but we need entrepreneurship. I think Zee Business is doing a great job and if it can encourage people, it will help India," he concluded.