The Road to success is not full of roses
Naveen faced his share of problems on his journey of creating the country’s No.1 E-rickshaw. The first major hurdle he faced was the lack of a clear government policy on the registration of E-rickshaw. The lack of finance was also a major hurdle and it caused various difficulties initially.
The next obstacle was the lack of micro-finance options for the e-rickshaw owners. To overcome it, the company started providing loans with zero percent interest but still security for the loans remains a concern. Another issue was the complications of managing a growing business as even while the structure is evolving, the conflicts between staff increased. This was further elevated by the growing concerns about the capability and the experience of Naveen’s wife who was leading the operation.
But a persistent soul will find his way as showcased by Naveen even as he overcame these problems.
Making a Difference
The company impacts more than 500 happy families associated with it including the operators, staff and the customers. The objective was to overcome the problems inherent in the E-rickshaw such as the small life cycle of 6 months, battery problems and the degradation in the strength of the body. Through the use of innovative changes in the chassis and integrating the body with the chassis to enhance the strength of the entire structure, Suprio-A1 is the winner in the rough roads of Nepal and rural India.
The ‘Zero compromise on quality’ attitude has resulted in satisfied customers who happily say “Suprio-A1 E-rickshaw nahi truck hai sirji”. All these has led to revenue growth from 1.5 crores to nearly 4 crores in 2015-16. The company is planning to expand to 3 more states within the next three months. They are also planning to launch a new model named “Tikki”.
Profit is the last word for successful business
When we asked Naveen as to what advice he would give the budding entrepreneurs he repeated the words of our professor Safal Batra. He told that the profit should be the last word for any successful business. Further, he told that persistence and patience are of utmost importance en route any successful journey. He also recommended continuous innovations and encouraging the staff and operators to innovate as well.
Finally, he cautions against underestimating the power of optimism and suggests keeping positive people around to remain optimistic even in the face of failures.
The article is being shared by Aditya Sai Industries, a venture of Naveen Vats IIM Kashipur EPGP Student
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