Transcript for:
Lecture with Dr. Wiman on Entrepreneurship and Thyrocare

always tell people once you have seen zero then you become the hero because there is again you won't be scared of a zero now I started working at an age of 11 even in college no textbook in hand after age of 15 I was doing part-time jobs because that was essential for survival love affection also is driven by money and when you don't have money around you are left with the realities of life you had a very prestigious job you're very happy at the job you are learning a lot thought you're working for 16 hours a day to that extent you loved your job then how did you decide to quit that job and become an entrepreneur I I was the only guy in the country to have a single lab for a billion population when you were doing 80 crores in profits you do not spend that money or take that out in profits you lived in the campus the bigger is the risk the biggest is the reward from 1 rupee a day to 3,300 crores [Music] hi everybody Welcome to the Indian business podcast this is a conversation that I had with Dr wiar who's the founder of thyrocare he's one of the most incredible entrepreneurs in this country and perhaps one of the greatest entrepreneurs India has ever seen and this episode is very very special because um 4 months back we made a case study on Dr Wiman and thyrocare and 4 months later I had a conversation with the man himself so from making a case study on Dr Wiman to talking to Dr Wiman we've come a long way and all of this is because of your kind love and support so thank you so much for supporting our work guys and if you haven't subscribed to this channel already please hit that subscribe button this episode just like ntin gar G's episode is divided into three themes the First theme is based on the struggles of Dr Wiman during his early times and we spoke about his Outlook of power and the reason why this theme is very special is because guys as much as it is hard to believe people who come out of poverty often tend to have a very positive outlook of poverty and this is a pattern that I've noticed with all people who have come out of poverty and then have become Millionaires and billionaires the second theme is based on thyrocare and what are the lessons that entrepreneurs of today's world need to learn from the growth of thyrocare on how to build a legendary company and the third theme is about his relationship with his wife I know that he's spoken a lot about his wife in multiple podcasts but in this podcast he spoke about how you can choose the right spouse for yourself how to choose the right partner and the reason why this theme is very important for us is because in today's world relationships are extremely shallow and fake and not real and deep rooted and this is what makes it extremely important for you to have the right kind of people both in your friend Circle and in your house so that you can focus on the right things and you get a clear Direction in your life so three things to note from this number one Outlook of poverty number two business lessons and number three lessons to pick the right partner both in business as well as in your life I hope you enjoy this episode this is Dr Wiman in the Indian business podcast episode 3 good morning sir hi good morning welcome to the Indian business podcast sir you are a social media sensation you know that right I sense that so in the past how many months have you been on Instagram three months I had been on Instagram for seven years that handle I never posted a real I was posting somean in terms of tweets so it didn't pick up well and my daughter felt that I have a good punchline skill so we reset it and I think in the last almost 70 days now I have 7 L plus followers which I never expect that is what 10,000 followers a day day I am very inspired by all of your reals sir and you know when I went through all the reals I found that you attribute your success to four entities your mother your wife poverty and Village a strange name which nobody would know which is kumaras Swami kamaj K kamaj yeah so I first want to understand what is so in what was so incredible about your mother that she ended up turning the son of a landless farmer into one of the greatest entrepreneurs India has ever seen what was so special about her see my mother was middle class when she got married and middle class marries middle class so was my father within 3 years somebody cheated my father because of which the three acres of land which he had he lost and that he lost because he didn't discuss with my mother while dealing with that party so that made literally speaking family very poor family suddenly within 3 4 years by the time three children three children three children all the three at a gap of four years um three children so that brought my mother to utter distress she didn't know how to handle and uh she had I would call us guts and grits both and she didn't give up and uh my father was a Pampered son pampered son yeah it's very important for people to understand what is this pampering damage it does to entire lifel lifetime and my father didn't have enough of uh uh capabilities to be an employer and he didn't have that attitude to be an employee so that was a c meting I think my mother understood it very early and she didn't uh surrender to Nature or surrender to whatever was blessed she took it challenged I I'm talking about my age of 10 by the time we were four children and um my mother uh was feeling very insecure because my father used to get very angry though he didn't have any bad habits uh short temp part and then at at a point of time I sided my mother and that made my mother uh safe and my father then felt that he should follow I was a head of the family at an age of 11 at the age of 11 yes how come what about your brothers and sisters how many all were all were younger I was 11 my another brother was 9 and 8 and then sister was only three so this is how the family challenge uh was challenged by me and I used to be my best friend for my my mother I think that was very important at that point of time and she reared to Buffalos and you know for Village Life two good buffalos giving milk 10 L A day is sufficient enough to get all the groceries in fact I keep telling people uh success is not how much money you make success is in how little money you can live I think my mother never borrowed never leaned on somebody for obligations and see uh really majestically journeyed and I started working at an age of 11 in a cotton field plucking cotton in the May month to pay the fees in the June month was the highlight for 2 three years because that is when you have leave to work and that is the H summer and I remember still how that par thr will bleed so during that time your father was not rning my father was somehow got used to supporting third role fourth role not the primary role that's a big problem with him and for him again this work I was doing in somebody else's field that means my father has to come and work as a daily wage earning man which we didn't uh he wasn't ready to do so me and my mother both were working 15 days in in month of May we will work 15 into 2 rupees because I will get one my mother will get one rupee so so uh this 30 rupees was the fees that was required for entire family to pay to the school to continue to the education I salute my mother only because all my mother's peers who had poverty and children put children into form and they never allowed children to go to school so if you you know insta one of mine went viral not shoot in professionally in some event somebody met me and uh took a mobile and asked me uh sir all are all rich people happy this was the question very very intelligent question because perception is all rich are happy so I told him I have no knowledge whether all rich are happy or not but I am very clear those who are not happy have not become richer so you think that richness is a byproduct of Happiness absolutely because you need to have a positive frame of mind you need to love what is right thing to do and then you become powerful so I believe you know even today some people ask me of all your ages in the last 60 years which one you would love to relive first it's the childhood it's the you know days when the third meal was not there for All in the Family is so interesting sir I mean I have a friend of mine his name is rajes Aid and he speaks about poverty as passionately as you speak about poverty and he also has a very similar story where he went on to become a multi-millionaire but he started from there and I still remember in one of his talks he said that 20 years back my roof was leaking and today he's providing roofs to multiple people because now he's into real estate how is it that you have such a positive mindset towards poity even after you got out of it while you are poor it is okay because some people are delusional they say that oh you know we are happy but the rich are not happy but when you actually become rich you get a realist perspective so as a realist how do you say that poverty is great see poverty at an age of less than 10 exposes to you every challenges in life because everything everything comes only in money in including love affection also is driven by money and when you don't have money around you are left with the realities of Life at that point of time you solve the problems not with theoretical knowledge it's all practical so poverty your village life puts you to maximum challenges at very early age for example sir see you may not have Chapel to wear so bare fot other children come to school with some kind of ever silver lunch Duba you have an aluminium one all of them come with well prepared mother love food you go with what do you call it maze not even the wheat upma because wheat was those days one rupe per kilo maze was only 10 P per kilo so everything you are shrunken resources I keep telling one punch line you have started your life with no resources living in low resources is luxury which means you learn to live in frugality yes so in that way Villages and poverty both put together puts a man to the the toughest Challenge and if somebody has enjoyed it they didn't see you know the negative attitude is I don't know how this positive thinking was there with me I if at all somebody has to be answered uh what made very big it's probably the positive thinking when situations were not at all conducive to think positive and eldest in the family so J and my mother used to tell one thing in Tamil that also was there could you say that in English sir for the English know it's like this you know it's like a pling a man who is leading the 4 five if the leading man goes straight the rest will come straight the leading man goes right left everyone will go right left it is to tell see the jaw so this is how it is and that responsibility was very big responsibility because I am now responsible for the family and let me also tell you a leader is always followed leader is not listened so don't have to give BS you have to act so the par line is the follow is follow so Don't Preach practice that's very interesting sir sir you speak so positively about poverty maybe that's because of your mother because the way children perceive the world it is actually a byproduct or in most cases a byproduct of the stories that their parents tell them I think it was all my mother as a uh University for me and uh I enjoyed overdoing what my mother was doing I think that's also very important not doing just what my mother was doing and uh because I was helping my mother all my siblings started helping sharing responsibilities I think my mother was extremely happy even when I before I became teenage boy that I got a support in life that will give me a lifelong Comfort I think that feeling itself is very important feeling for mothers especially the mothers who husbands are into truly understanding the wavelength you know very often marriages fail because they you know both don't understand the wavelength in fact there is a new punch line for that if husband and wife don't sink sync they will Sink s n k if you don't sink you will sink and M family was singing I think I could manage to put things in place not that we became very successful at that age but then floating and moving makes sense uh tomorrow we might become powerful so you learned frugality humility and persistence from your mother one thing I learned is focus focus and my mother used to tell these are all few things otherwise you know what neighbors will say what others will say this kind of pressure they will get into my mother so this pressure of the society is one thing which is putting people's productivity completely down but she was the one who was teaching the focus and was not teaching the focus he was focused and I see her focused I became focused again children will follow and then frugality was the height because no single pis he will spend just like that and what probably made me to attach me too much with my mother was see will keep on serving food for the children four of us sitting in front of us I know inside that part how deep this uh spoon can go and while talking with we will eat and then I will realize my mother has reached to the bottom of it now she has not eaten now then I will ask her a question show me the pot and in the PO hardly anything will be there then I will force something from my plate to be back to the part there we used to fight so this is very emotional see houses where food is excess is always kept in the refrigerator will not have this emotional um connect whenever I I always feel not having enough food if you had in your family your relationships are more emotional and if you have too much to eat and that part is missing true and food is very vital especially when you are St and you know eating full stomach is the dream which happen happens once in a month once in a month yes the remaining days see for example if I can eat easily 10 ID at the age of 12 but the the amount given was fourth idly and fifth ID is luxury and once in a while only when we are invited for some marriages you have the stomach full L to breakfast unlimited unlimited go for second round so he spoke to me about the importance of food and during this time I remember and here's my I want to bring in kumaraswami kamaraj most people don't know him so for the listeners kumaraswami kamaraj is one of the most revolutionary Chief ministers in the history of Tamil Nadu back then it was called Madras and he brought in a scheme called the midday meal scheme how important was the midday meal scheme in your life see there are two things which kamaraj brought in both have only made me what I am those days will VES did not have schools because Villages did not have enough of strength in the school to put a infrastructure of school recruit School teachers and in those days number of school teachers availability also was less though the chief minister wanted to scale up education it was not possible but he had a very brilliant idea he brought one teacher school one teacher school yes all the subjects all five classes one teacher will manage now this is unique so single classroom single teacher and five classes so this is what those days 1960s the schools there in every village I was fortunate that Village had that school otherwise schooling was you can't go every day for 3 4 kilometers and there was no buses available walking 3 4 kilom daily people won't justify that school is worth it so that's one is he brought schools then subsequently even after bringing the school the school was not full uh there are only 15 students where it can manage 4050 then he felt if I put School in meals in the school these children will come to the school to eat the meal and they will have at least half a day education which is by midday meal midday meal and uh I still remember I I I don't think today's kids can imagine that I have never own a shirt it was only a trouser I think that is minimum essential that is there and there was no school books there was no school bag there only one slate that's it it that's all so one slate in one hand and and to eat the midday meal you have to bring the plate from the school from a house to the school to eat they only give the food they won't give you the plate my that's the picture I can imagine even today me and then my brothers and all of us had uh that education and I believe without that meal I might have not gone to school and without that school the school was not at all possible so if I today stand in a stage and tell that how did I become so successful I don't like anybody else show that great University I show my school I show my Village and I tell this is where my entire beginning started so that is uh why I keep on the stage appreciating Mr kamraj and let me also tell you I nothing to do with politics I am neutral to politics but today if Tamil Nadu is number two State economically in India it is not because all the new Chief ministers it was the the seed for this growth was shown by Mr K kamaj in 60s so that is how I Rec recall him and I want to recognize his contribution and I love to talk about you so millions of children went to school got educated and today if not an entrepreneur they're at least working or they let me tell you all those ID companies in us have all cxos CF CT all are comage students what are you saying sir yes exactly then he started this team and today they are all in 60s I'm 64 so you go and see all the big guys there I have all come from Tamil Nadu schools wow Tamil Nadu is ahead in education only because of this particular scheme wow do you have some friends who also studied under the kamarad SCH plenty anybody who is between 50 years of age and 65 years of age there have to have gone from there of course 10 20% might have gone from the convent educated or private education those days private education was not existing today the government education has gone down to 10% private has gone to 90% but then those days that was the only education available rich man didn't have a separate School everybody had only on Sir now I want to bring your attention to your career trajectory you graduated in 1978 worked in a company called gmany capsules is that correct yeah Germany capsules and then you went to Baba Atomic center walk me through this journey how did you go from a poor boy in a village without any exposure to then going on to work for Baba Atomic Research Center yeah all this takes time to in a journey my school itself I was a mathematics student and there was no atlas there was no dictionary and there was no uh harx there was no Bonita there was no parent teacher Association there was no school bus there was no Buu there's no tution classes no coaching so I believe whatever I have scored is purely my hard work because my parents my mother was third fail and my father was fifth fail okay so zero support from anywhere I feel extremely happy and I also tell people because I was never coached I am very successful very very important because you never coached coached I am very successful what is the meaning of that sir once you are coached you need coaching life right takes away your self-sufficiency yeah you are dependent on somebody's guidance you know why people coach I will tell you this is very important for the new generation mothers to understand I read once I don't understand I read second time I don't understand I read fifth time I have understood now if I am lazy enough not to read fifth time now I need a coach for my first time reading and this once you have become used to that coach teaching you you will never be able to think and understand and learn by yourself in 12th standard without a text book I studied and still I scored mathematics 200 out of 200 wow so that means what it only says coach actually spoils your thinking power you leaning on him you are holding and walking how will you when you will be our independent so you think the real coaching is teaching people how to think and not what to think exactly I'll tell you current coaching what is going wrong they improve your megabytes they don't improve your meah Heartz understand what is the difference yeah megabytes his memory they don't improve processing Mega HS his speed of thinking h so I believe I was extremely lucky to have no coach around even in college no textbook in hand go to library sit and read so I believe the poverty forc to discipline very very important already forced discipline once you have money you have you are IND disciplined once you have money you see so a picture those days wow everybody went and saw four times five times meas gold but then I never had any money to do that so poverty forced discipline many people ask me that means don't you think you have missed fun in life no one had that fun I had many people believe going seeing movies only is fun going for tours picnics is only fun I had fun when I could solve a problem without anybody's help I could prove LHS equal to rhs that means I am very powerful sit alone and feel happy that you can solve any problem so that's how my BC first class went through I was 19 years old and I poverty forced discipline made me to look for a college which is cheapest in the city and that college was ramakrishna mission vialia where Bens you have to sing otherwise you will not give get admission there on B and the discipline of ramakrishna Miss VI again is poverty Force disip so I must tell you all these things put together creates a product at an age of 19 with the first class in BC who will now go he will not have problem because he's well processed graduate well processed graduate in today's world that's a very very not fully enjoyed graduate not that graduate who has too much of expectation but then um it was a very tough time as soon as my degree was over my mother was eagerly waiting and my mother was believing that once the last exam is over somebody will give job and uh she didn't know that it will take couple of months to get a job of course meanwhile I was doing some part time jobs I was at all the point of time after age of 15 I was doing parttime jobs because that was essential for survival and then everybody rejected me as a candidate for job because of two reasons I my English was po because I studied in Tamil medium and then second one was everybody expected somebody with experience no one was giving willing to give job for a fresher but these two two things made me frustrated and then finally I got a job in a capsule manufacturing company and it was 150 rupees per month okay 1978 and then I was happy with the job happy with the salary see one thing if you notice I was never unhappy at any point time so you went from one rupe a day to 5 rupees a day which is per day that made me feel happy 400% increase in salary increase in salary but that was uh from age of 11 to age of uh 7 19 that's a pretty yeah 8 years and then uh next year the 150 became only 175 was bit worried because I wanted to get married if it reaches thousand, yes because those days, Rupees is said to be a good salary but then fortunately that company was closed down okay otherwise I might have remained unmarried even today and that company was closed and I I was again I was a library loving man poverty forced discipline forced me to get into library for a Frugal learning which is very interesting sir reading has played such an important role in so many people's lives and then you know in that uh Central District Library of Kor I nowadays go to see where I was sitting and reading so a lot of nostalgia Times of India used to come to K on the third day okay and every wetness Day times of India will have situations vacant the huge list so every Sunday I will go to the library and look for wetness day newspaper and spend 2 three hours I will buy some 15 postcards only post cards I could afford to buy I will see where people want first class BSC and I will write the postcard I know sitting somewhere at home no one I know no MLA I know no rich man I know no one is going to get me job I myself have to find a way my parents don't know anyone so writing postcards weekly 15 of them and one such postcard was sent to Baba automic Research Center Mumbai and the job was scientific assistant and I got a interview letter which I couldn't believe it was the Breakthrough wow so this happened in 1982 so basically you did cold during that time ABS absolutely and uh kind of uh uh spending 15 in uh Inland not Inland postcard itself was a very costly Affair those things and I landed in Mumbai and that's how the transition of a boy from a village to the biggest Metro of Mumbai I borrowed 500 rupees from one gentleman who was that that gentleman had a beautiful daughter and he felt I once I get the job I might be his son-in-law and I knew I am creating an ENC conference okay but I return that money within 6 months so that that part is not there but then he was kind enough to uh support on those days getting 500 Rupees is equal to almost getting around 50,000 in support especially when your ambition was 1,000 rupees yes and then landed in Mumbai and uh things then different so you return that 500 rupees so that he doesn't return his daughter no no he he he doesn't continue that as a reason to put a discussion because I came to Mumbai if had I been in the village probably that girl I would have married but once I come to Mumbai it's a totally different environment is that because you didn't want any liability in Mumbai not like that I wanted to keep me open not committed what happens if you remain committed even if morally you feel guilty of changing your options so I wanted to be free free young man yeah young free man with knowing no Hindi first Hindi word I Learned was s ja because I will show an address to someone in a p Duan and ask him where is it s ja so how did you survive without Hindi sir oh that way you know Tam Nadu is made up of two countries sorry India is made up of two countries what one is Tamil Nadu another is rest of India once you are why guys from Tamil Nadu go only to Singapore or Seattle not for up or Maharashtra it is the Hindi challenge really yes they don't know Hindi at all so I had come and I knew in Mumbai with English you can survive and I knew in BRC there are plenty of South Indians so some kind of confidence was there I told a lie to my mother many of my class classmates are already there oh so that she feel safe she feel safe that my son is not you know exposed to extreme levels of insecurity but no one was here and I stayed in VT Railway platform for three nights three nights three nights I stayed in ra I have what I have is 500 rupees only and I never knew that I have to go back I thought once interview is over they will ask can you join and I will tell yes I have come to join only oh so did they ask you to join no once interview is over I asked them when will the appointment letter will come they told it takes 2 three months two three months yeah because they interv in batches and then they s list and then they decide which man will which department which section he will go it takes time so you went back again I had to go back mother was happy yeah my mother was happy and I I had given her a feeling that I might come after 6 months or one year but when I see saw me she was extremely happy and I told her I asked her in fact a question do you know indraa Gandhi do I know indraa Gandhi only if you know indraa Gandhi this job is possible so was that because of the corruption then I have to make my mother happy okay otherwise he will think the son didn't get the job oh Merit he failed oh so you wanted to make her feel like you did not fail because of you failed because you didn't have enough connections so then she told which means doesn't matter I'm happy you are back and I was thinking they may not send me because in all government jobs there is some kind of I was happening after deciding who will join and then I got a offer letter job offer and I was extremely happy I gave it to my mother she didn't understand anything she put it before the bhagan and she prayed bhagan you have opened a new door for the fam's you know 20 years of poverty to be wiped out and then she allowed me to go and I was extremely happy I told everybody in the village look I got a job in babo automic Research Center and uh boarded the train came to Mumbai the fine print was subjected to Medical Fitness okay now there is a medical exam going on in the medical exam I was detected to have color blindness color blindness so are you color blind yeah I am color blind which colors can't you see partially blind to red and green not fully partially some shirs of green some shirs of red I don't know so you see them as Gray I don't see them I you know they used to keep some plates they will ask me to read the plate I will tell there is no number are you sure that means they have identified that I am having color blindness and it was written PBR G that means it is medically questionable now that lady who was sitting there explained to me uh you can't join she didn't know how to tell she should have told me this has to get approved approval she told you can't join and I went to the toilet sat and cried like anything I told everybody in my Village that I got a government job and if I go and tell I got I don't getting because I have color blindness this is another new distress to the family they are none of them know what it is yeah and uh I cried and went back and after after going back I told my mother that indraa Gandhi knowing is mandatory without which this guy I have to use some way of convincing her and at least otherwise 2 lakh rupees they are demanding so this job is not meant for me so mother mother we have wasted money in two trips don't worry I that was an experience for me within 20 days I receive a letter which says you are medically cleared okay how is that color blindness is not is a problem in every job in some job where color sensitivity is there your color blind otherwise 7% of the population is having a color blindness 7% 7% of the human population has color brightness wow I didn't know that I think that was not known to me either and then this time I didn't tell any girl anybody neigh no one because it wasn't making sense so and I came I joined after me joining I was taken to my boss one officer takes me to my boss I go inside and I stretch my hands uh to shake hand and my boss is just looking at me he is not uh shaking hands I turn Bombay bosses are so arrogant or what they can't even shake hands with subordinates then the man who brought me took my hand and took his hand and had shaken both the hands why which means this man is blind B so your boss was blind blind then I sat in my chair and my punch line to me how a completely blind man can reject a color blind [Laughter] man that is so strange sir so are you telling me that in Baba Atomic Research Center your boss which is I'm which I'm assuming was a very senior position that person was blind he lost his eyesight because of some infection retinal detachment okay at an age of 40 by that time he had become a PhD in Biochemistry and in government somebody have becomes uh this kind of challenged they don't send home they keep they try to see what best he can do and they felt that if this man has a reader a man who can read signs for him he can be contributing though I was his reader you are the reader yes okay so blind man has a colorblind man as a reader reader sir what is the story sir so now I am first I felt that okay lucky I got this job because this man is blind he can't reject me the next point is what is my career if I work under a blind man now had I been a middle class man I might have refused to work and gone home if I go back now that is the you know poity post situations I agreed I will work and Trust me for this for this for tea for breakfast for everything he used my shoulder and after coming back from D I will sit in front of him and I will read signs for him and he will listen signs for me a BC man literally teaching science to a PhD man never in my life I expected this kind of kale will happen nobody would so couple of years ago he was very nice to me he was his name is Dr kavas Desai the Pary gentleman and he one day asked me you want to do MSC now I never dreamed in my life after BS there is one more education possible and he said I will arrange for it if you want I know people in Bombay University and Bombay University and Baba Atomic Research Center had a relationship where that is possible so he went out of the way and made sure I became an mass in thyroid biochemistry while receiving salary while working as an employee I get a bonus of a uh degree so that is what I was wondering because you worked at a nuclear Research Center yes and you did your MSE in thyroid biochemistry both these domains have no connection at all a connection so this is a story behind it the story is thyroid treatment is done by nuclear medicine so thyroid and nuclear had a relationship because iodin isotope of iodin was common in nuclear gives isotope and thyroid is getting cured because of the iodin isotope so this was the strange connection and then he made me to do PhD also and uh I was extremely lucky to come to you know I always keep telling people until 20 years of age bhagavan was against me afterwards bhagavan was for me otherwise how these things can be explained that is so interesting sir so then I I earned two more degrees you got your PhD also right yeah PhD in in thyroid biochemistry and then um two promotions I got a lot of increments I got was one of the happiest employ is though it was a government job where no overtime provided no one will motivate you to work for longer hours I work from uh 7 a.m. to 11:00 p.m. 7:00 a.m. to 11:00 p.m. that is what 16 hours today wow again this was poverty Force discipline but what motivated you to work for 16 hours a day at a government job like you mentioned no incentives no motivation what do you do if you love the job oh so you love the job otherwise you can't you start watching the watch one hour before your office hour and you will go home so I used to enjoy number one number two I in Mumbai was living in a maharashtrian house as a paying guest okay and the paying guest land ladies would request you to leave home early and reach home late okay because you it's a room inside a house if you live in that room minimum they love you so I used to feel I making my land lady happy I am learning and I am growing and I used to go early morning and up to work up to literally speaking when I reach to the bed it will be 11: 8:00 I will leave office but uh I will reach by train everything finally 11:00 I will sleep now here very important is when you get money into your pocket they can be classified into three one is stund MHM another is salary MH the third one is pension STP and means very little work too much of learning salary means uh too good working and no learning pension means no working no learning for 14 years in BRC I treated the money which I received as stip not as salary not as why so because you are learning a lot okay when you are learning it becomes stened money comes as salary only yeah you understand what I'm talking how would you treat that so this is so interesting you came out of poverty you making decent money not as compared to what you are right now but during that time that was luxury very decent luxury you had a very prestigious job you're very happy at the job you were learning a lot you're working for 16 hours a day to that extent you loved your job then how do you decide to quit that job and become an entrepreneur yes they very very important not only I was earning by the time I was married and my wife was working with State Bank of India and her salary was more than my salary okay so salary wise two good salaries to two good salaries and this question many people ask me generally people if they come to some level of comfort they will realize how did you leave your job there are two kinds of people another kind of man so are you telling me you just habitual to risk thrill word risk was into my dictionary thrill anything you want to do for thrill you need it's a risk otherwi there is if there is no risk involved there is no thrill involved sir this doesn't make any sense to me listen to me if you have to achieve something let us say there is only two balls left out and the bower is bowling and you need only six you can't wait for the next last ball to hit the six you have to hit here and that is courage that is risk and that is thrill okay how did your mother react to it my mother wasn't asked by the time you know my mother didn't have a control on what what I do see there was not influencing what I do because I at 37 when 37 when I took this decision he was already 65 and she will feel that whatever my son does he will know he he Visionary but here what did your wife say what is very that was my next question I'll tell you I had a uh wonderful wife not that uh I knew that she's wonderful before marriage uh after marriage uh we worked for 10 years uh as employees of government and Bank two children wonderful mother-in-law father-in-law and uh because they were all nice to me I could focus and do my degrees so I would say if somebody is dreaming a life that was the best life at that point of time I how why did you take this risk is very very important question while doing PhD I was doing a project and that project in today's terms is an at project okay where testing thyroid reagent were then imported from Europe okay and government of India felt why not we make in India and I was given that responsibility of a team and responsibility of indigenizing the resources which means producing the Regents over here in India locally okay within 3 years we got breakthrough what is imported is 150 rupees and what is made locally is 30 rupees now this is a break through and you were asking why were you working from 7 a.m. to 900 p.m. obviously [Music] Ma you see you see yourself becoming wiser you see yourself becoming stronger so that is how we made a breakthrough and all my PE were busy in looking for increments promotions foreign trips conferences and I was thinking my competitors are picking up raw material at 150 selling at 600 rupees raw material they're picking up at 150 yes and they're selling at 60000 rupees because you have to have Manpower resources floor cost everything at profit and very fair price now yeah I my raw material cost is only 30 I can afford to uh sell at 12 be so help me explain this this is when you were there in bark right and after you left you're able to Source it at 30 rupees from Baron I myself could make you could make yes by yourself yes what is this region sir can you give me a little bit of insight these reagents need uh some rabbits to uh immunize and raise antibodies and radioactivity to be coupled with iodine so these are all the experiments we have done for that you need don't need any huge infrastructure this big rooms is sufficient enough and a small room to keep the rabbits so I knew that I can create it so I started doing the testing competing with my competitors and my competitors never expected I have this capability and when I sold the services I Market was paying 600 rupees and I was charging 300 rupees H this is for thyroid testing thyroid testing okay he is looks like ji I wish I was bami so that by now I could have been the chief minister of Comm but but then it was nothing but a technology which I had a control on and uh of course I did those technology driven own manufacturing only for four years sir if I ask you here why couldn't your computer source it from The Institute where you actually indigenized it they were they were so sick but then the institution put its margin and it was selling in the marketplace oh so what was institution's margin see I'll tell you what what went wrong for my competitor M there are two different Technologies it's like one is your you [Music] know am I right that name similarly there are two technologies what we created is a CDMA technology what these guys were buying from Europe was a SIM card technology okay okay they didn't believe in this they felt that is superior oh and I believed in this because I know it is as good as that so you worked on it that is the reason why you knew it it was fight between two technologies okay it was a fight between Indian manufacturing and Multinational manufacturing which my competitors were not aware of within 3 4 years they came to know I am successful because of this technology but by the time it was too late listen listen to it very interesting this guys changed to changed to my technology because of which that European manufacturers become restless and they came and offered me that technology at this cost and they shifted to their technology sorry sir I did not understand this that was costly costly was said to be better this was cheaper this was said to be bad this is good so everybody got convinced this is good so they abandoned the costly and all came to the cheaper one they started selling your product then by the time they told to the entire Market that is a Brahman technology this is Ain technology is selling technology so all of them had to come to that technology by that time I went to the Brahman technology which was offered to me at a rate cheaper than this because I had volume seans which is the biggest multinational company in this domain Sean came to me because seans had a situation grow or go okay because if I am successful this technology is successful all guys come to this technology the technology with the seens selling will not work now they have to block me and they purchased me to use their technology by giving that technology at Cost cheaper than this automated so this was something which was not planned such wow so this is something which I can't explain to everyone in a small Quantum of time but the truth is I believed in my technology and I worked on it why did I migrate from there this another reason because I used it because that is also reliable because that is cheaper my volume was growing now I have got 4,000 specimen each day single largest player now this is manual that is automated oh now if I I have to grow from 4,000 to 10 20,000 manual is a block for me so may CH so help me understand this manual and automated so this is a reagent reagent as in it's a chemical right so there was chemical a and there's chemical B can you name these chemicals sir antibody antigen antibody and antigen antibody was yours yes antigen also is the uh mine only okay they have their own antigen antibody I have my antigen anti my antibody okay so yours was antibody their was antigen no no no this this also requires a and b okay they also require two reagent that is C and D but the sourcing is different methodology of production is different okay so what do you mean by yours was manual and theirs was automated yeah see wherever radioactivity is involved you can't automate okay when you manually you have to take and pipe it okay people have to sit and do manually okay it is simple you have to put the oil and you have to put the water and you have to remove the water this a manual automation means everything once you put the batter somewhere it gets packed somewhere else so you're talking about the testing testing is automated testing is automated fully automated analyzer so Simmons offered you the technology technology and a better pricing also so Simms would sell you both the reagent and the technology yes oh now I'm able to understand this in case a you had the reagent but then you had to do the testing manually in situation B initially seimens was giving you the reagent and people were doing the testing by themselves but in the third scenario after you gave your reagent at a much cheaper rate they came in and said we will give it to you at an even cheaper rate and we will will do the automated testing for you absolutely oh now now I'm able to understand automation gives me scalability yeah they had Automation in their floor when there was no scale and I was the first guy to get a scale and if there is no scale automation doesn't offer much advantages so this is the reason why you know while we did the thyro care case study did you have you watched it by the way many times so there we had one big question how did Dr Willman and this is a stat that we found out from some newspaper I don't know if this is true or not but it said that the cost of testing thyroid testing during that time was 500 rupees and you offered it at 100 rupees now to be able to do this you need scale so we were wondering how did you initially achieve skill and the answer to that came from the reagent where you produced it cheaply achieved skill and then shifted to the automated process which then give you further cost cutting and that is the reason why you able to offer it at five times less cost there was little more to it okay okay Market was charging 500 I was charging 250 okay but in the 250 what a patient is paying my middle man was retaining 150 and he was only giving 100 to me so the middleman was making more money than you per specimen but he won't he won't get more than 10 a day I because there are thousand middleman I get 10,000 a day so this middleman introduction was another success my competitor did not introduce middleman so they did not follow the franchise model they did not follow they did not understand the franchise model will work okay so during that time in India franchise model was not soting how how did you have the idea of the franchise model this is known as situation forced process okay madarasi cannot speak in odia madarasi cannot speak in Bengal cannot speak in Gujarat you have to have a local man speaking local language which means you have to have a man who is communicating so I called such such guys who are 12th Pass OR b told them they go he became unconscious 6% margin no one was thinking of giving I gave him because for me the Ramin cost is low for me 100 rupes itself is 3x and I know in 3x mine is X profit what was your margin sir in that 100 rupees let me tell you 40% was my margin even in that 100 rupees wow that was the Breakthrough so that is how you able to get more friend franchises franchises and then you did Hub and spoke from there right not only that all my competitors collection centers became my franchises so jumped board wow so can you explain how did you follow the Hub and spoke model during that time see I was the only guy in the country to have a single lab for a billion population single lab for a billion population okay till two 12 Nai Mumbai only had a single laboratory nowhere else there was any laboratory across the country nowhere else okay to be very honest with you I was a logistics King which means from across the country from 60 airports every night same night before midnight I used to collect my Consignment in Mumbai from across the country across the so that was the strength because of which floor became volume wise enriched that made my automation Justified which was Simons technology Sim technology T2 airport is not s will not be successful had it received only 25 flights a day it should receive roughly around 2,000 flights a day volumes is the key how did you so Hub and spoke is that did you know the terminology Hub and spoke or did you just go with it no no the H Hub and spoke was subsequently into the picture when my private Equity partners by that time had come in sight and they gave me an idea why don't you put in all major airports one one Le atory now I had some problem because of volume okay because volume also gives problem if I get down a T2 Airport from the time flight has landed till the time I sit in a taxi it is literally 50 minutes if I go to Guam it's literally 5 minutes which means here it is taking 50 minutes because of the size and Logistics in the laboratory business all so anything more than 10,000 specimen a day that floor will becoming less speed speed speed can you explain this sir I do not understand this why you take time because from the runway the flight has to travel so much to come and then sometimes it is parked in another Corner then the vehicle has to come and then you have to come down board on it come here wait for the luggage and it all comes and in T2 airport the car is parked in some floor you have to go there and you have to board it it is 50 minutes okay in K once you go get down the the runway is only 40 M from the boarding place when you come outside the taxi stand is only 25 M you are in the taxi which means when the size becomes big there is a operational challenges inefficiency starts sitting in so then we decided everywhere we keep at 10,000 10,000 what size of sample number of sample that night process 10,000 so K 10,000 Chennai 10,000 Kolkata 10,000 everywhere 10 10,000 capacity B so these are all Labs these are all Labs okay so instead of having one Lab at the center we now have 25 Labs across the country this is regional Labs right these are Regional Labs oh so once you achieved enormous volumes you realize that airports and the logistics is too hectic so instead of sending them to one central location we can have a center for multiple locations in every state in other words after 20,000 samples in a floor there is no additional volume Advantage oh so for that also for scale also there is a Maxima so you established Regional centers that's how it become a hub and spoke oh interesting so earlier it was a micro Hub and spoke where multiple Fran frises just gave you the sample and you tested the sample then after certain point what you realized is that from every point if I have more than 20 samples it's going to be a pain so you established Regional centers in each place because of which the samples did not have to travel all the way to Nai Mumbai and they could get tested over there not only that by keeping one lab in Mumbai I was servicing Chennai overnight I was not servicing Tamil Nadu overnight Oh by keeping one lab in Chennai I am servicing entire Tam overnight so speed also increases very interesting sir sir I have one question and this is about your choice of domain and I did a very detailed study in that the first choice that the first choice that you made was between pathology and Radiology so firstly for our audience can you explain pathology and Radiology in simple words and then we'll proceed ahead see Healthcare business is hospital and Pharma industry put together is Healthcare I didn't touch Pharma H in healthare hospital services and diagnostic services are two segment I didn't touch Hospital Services I only took diagnostic services in diagnostic services one is Radiology another is pathology I didn't touch Radiology I touched only pathology in entire pathology there are three segments biochemistry microbiology and uh surgical pathology so hematology and humanology all of them comes into biochemistry okay all comes into biochemistry I'm just putting as a major heading I didn't tell microbiology I didn't touch hisop ology I only focused on biochemistry which is hematology also serology also all this put together is all done in serum so one simple question can you explain in simple words what is the difference between pathology and Radiology what is Radiology what is pathology pathology is a test which is done using a specimen collected from your body okay in other words you are collecting you are dealing with the specimen which is collected from the patient okay Radiology is nothing is collected you are directly dealing with the body which means you are scanning the body the patient has to come you are reading some points in the body in terms of ECG uh patient has to come so this is known as Radiology where samples are not collected directly patients are dealt with h M which is like MRI scan x-ray ECG MRI uh CD bet CD all these Technologies are radiology and pathology is basically blood sample testing and stuff like that so why did you choose pathology is that because you knew more about pathology or is it because of skill again I will tell you the poverty forced to discipline okay [Laughter] radiologyy and [Music] inti biochemistry PhD so I started doing only biochemistry out of constraint constraint and in Biochemistry you need 20 different 15 different meins to do the test if you want have to do entire biochemistry I had only very little money so I started as thyro care only thyroid testing only thyroid testing this was courage so people ask me 100 kilogram body you are focused on just one grand gland 15 G Ro I just told them gentlemen this Miss very powerful way of looking at it Specialized Service once you do thyroid thyroid will all come to you only which gives R to one punch line one more punch line rather in medical field people are wondering whether should I do a single speciality or multi speciality if you do multi speciality it is a short-term security okay and if you do a single speciality it is a long-term Prosperity Val 50% of the total market cap understand yeah so thyro chalia thyroid is women related by the time I have more money I had to do some pregnancy related I bought one more mine and then I had to do the newborn testing I had by one more Miss like that I added entire biochemistry over a period of 10 years to begin with I was only a thyroid man and when did you start diabetes sir diabetes was started after 11 years of starting that is around 205 sir um can you help me understand in brief the subp parts of microbiology I know I'm getting very technical but I want to understand it from the business perspective what are the sub segment of microbiology and can you explain it in one line see the entire space of pathology falls under three main categories one is biochemistry another is microbiology the third one is surgical pathology in Biochemistry is a was subject not so 30 years back the fastest growing segment in last three decade was biochemistry okay and that is one of the reason why was a hero because he chose not to do other two he chose to do only biochemistry and that is the fastest moving it is like you know so that way I had an advantage to explain you microbiology is l largely to do with infections infections okay any infection any fever any hospitalization will have to undergo some microbiology test because what is the infection you got is it which bacteria which virus this bacteria virus fungus is the microbiology part histopathology which is the other segment is taking the tissue putting under microscope and reading what is the abnormality it's not infection they reading uh cancer largely okay cancer largely is your histopathology now biochemistry is done by m put the sample it aspirates it does something and it tells 17.3 microgram per decil milligram per Mill like that it keeps reporting easiest to do is biochemistry so biochemist IST is infection numerical not biochemistry is not infectious biochemistry is for disorders microbiology for diseases this is also a new terminology which I am making people to think disorder means comes doesn't go diseases means comes and it goes it's like dingo malaria and leptospira is diseases they all come in microbiology biochemistry is numerical biochemistry is scalable biochemistry is automated and biochemistry is idiot proof and biochemistry is cashow because very high customer lifetime value so that is how my uh I was fortunate to be in Biochemistry and biochemistry is fast as growing easily scalable samples of biochemistry can be can travel easily not that of the microbiology so temperature and time resistant so was that by choice or by constraint I must tell you while you are moving you move towards what according to is wisdom see after starting biochemist I could have done microbiology also molecular everything I didn't do I found doing this is convenience do that so because I was just reading and and let me also put it in for the consumption of a common man had McDonald done multic cosign they would have not come to India either you do everything in one geography or you do one thing in every geography wow that is a very interesting line sir sir because I was just reading how many tests did your competitors do and how many tests you did well you were doing 200 tests your competitors were doing 3,500 test and you did not do 3,500 test because you wanted Focus volume efficiency and automation is that correct does that sum up your thought you will be shocked to know the answer what is the answer sir I didn't have ego joh home I knew this I am doing I want to only do this and I stuck to that see I'll tell you what is happening even if you have 3,000 tests only 300 tests have 99% volume and value you think McDonald does not know how to make other things and they having a limited menu then limited meno gives you a comfort of highest reproducibility that is so interesting sir because in my world in my generation we all driven by the fear of missing out so somebody's doing something whether that's funding or launching a new product everybody else kind of wants to do that and yesterday I was listening to this talk which spoke about the importance of focus and you are telling me the exact same thing that is focus is such an important attribute that will eventually Drive profits and all you have to do is just focus your energy into to just one product one domain and deliver the best quality is that something that so at no given point in time where you distracted I wanted to be different I think I don't want me to do what your neighbor do is what you should do differentiate or but sir they were also your computers were also widely profitable right Dr L if I remember the last time I checked from what I could remember I think they were valuated 18,000 crores odd srl was valued at 6,000 crores odd so didn't you ever feel like they are deriving such exponential value both exponential Val you L as a brand is today 70y old brand I was the latest to arrive and I got the best value I am not never worried about they are bigger they are earning more I am known for my domain don't compare punch line just because liver is sitting next to kidney a nephologist should not become a hepatologist this is so interesting sir I think focus is making a lot of sense sir um I know it's a very small example but um in 2021 that is when our YouTube channel actually blew up and during that time reals was a very big deal on Instagram so just like it is today back then it was even bigger deal because there were very few creators so a lot of our creative friends made reals and they went viral a lot of them hit 1 million 2 million 3 million but during that time on YouTube we were just at 100K okay now I had limited time and I said who am I I'm an educator an educator cannot give in-depth knowledge in 90 seconds so I have to stick to YouTube because it caters to the fundamental belief that I have which is I need to give value that is not shallow so we did not produce reals at all we jumped over the real wave and we went bullish on YouTube without knowing how big our channel will become but two years later we became one of the biggest YouTube channels in the country if not the biggest and now when I look back I don't know what I was thinking because it was quick money it was quick Fame and the numbers were coming so naturally I must have done that but because I skipped over that wave today our followers are taking notes from our podcast notes from our videos because it gives in-depth value like imagine me covering thyro care in 90 seconds Sir do you think I would have done Justice I mean now that I'm talking to you I don't even know if I've done Justice with that 25 minute case study I it brought in some clarity but I know that needs lot more on on that but having said that there are only two kinds of people one he successful other got distracted that's it refusing to get distracted is the power of the man H so when private Equity guys came in didn't they ever give you suggestions that got you distracted I used to listen to everyone but I never used to follow anyone okay so let's talk about how did private Equity come to your life so you were a bootstrap company until 18 years 18 years you started your company in 1996 if I'm not wrong 1995 so 18 years from there would be 20 13 no 2011 16 years okay 2011 what was this meeting like sir a bootstrapped company highly profitable and I still remember from your talk in Surat where you said that your company grew by 25% for 25 years is that correct year over year C 25% for 25 years 25 years so a person who's growing at a c of 25% gets a person who has never seen that scale never seen that profit he's just a representative of a larger company how did that meeting go and what did they say in that way there was somebody who was a middleman who was my friend's uh my brother's friend otherwise they would not got an entry to come and discuss he told s just talk to them they are very keen to talk to you so they had come and then I understood they looking for purchasing a stock in diagnostic company and they were Keen to buy from me I never knew what is the valuation because only when you want to raise money you start discussing with people and come to some Discovery and then I am a man who would I a man who want to prove I am FAL okay this is ego in me and that's kind of thrill in me so I told them my company I'm willing to dilute at a 400 CR valuation just like that no calculation okay during that time your profits were I'll tell you what was my calculation I felt the company may be worth 200 CR and if I tell 400 CR these guys will run away because that is how when you want don't want to sell some asset you tell the double value he will go away so my mind said let me tell 400 and if they don't find it okay let them go the minute I told forand what's the logic you are on my table that is the logic because if I am on your table what you tell is logic you are on my table what I tell is logic no no no it won't go for that if not I am not going to di simple then they went away because I have to find end for the discussion I have to do some of my work then exactly after 6 months the same guys came okay the same middleman brought and then this time I thought now 400 if it was wrong these guys will not come so I told it is 500 in 6 months in six months I say 500 last time you told 400 right they were annoyed they didn't even wait for coffee they got up and went away another two month another two quarters gone one year the from the first meeting one year same guys again on the table I thought I must tell 600 don't waste coffee till 600 these guys doc we have come with a determination to purchase even if you tell 800 or th000 so 600 will they told you this yes my God after me telling 600 we had come here to buy at any cost so 600 we are okay and 600 I diluted 25% what so your valuation was 2,400 crores no no no 600 CR for for 25% they paid 150 CR sir 600 crores for 25% so you got how much 150 cres CR that is secondary money is not going inside the company because company doesn't need money company has 100 CR fixed deposit it's aced profits you understand now here it is very important the company with whom the investor is talking does not need money and the company with whom the investor speaking has already cash in its balance seat and then you ask whatever rate you want you will get it this is negotiation power if you can hold on till such time if you want pitch your Valu is half X if they come and Pitch your values to X now this philosophy I want youth to understand everybody is getting an itching to pitching immediately yeah doesn't work you won't get any value so I valued it and all the money was secondary sales so no money came inside the company and exactly after one and a half year one more party comes another venture capital and I ask him who has sent you they only have sent that means that means I don't have to do too much hard work in fact I tell people if you are newly married you love your wife so much that your mother-in-law becomes impressed and and request you to marry the other daughter also so you keep your investor so happy he sends you one more investor also so how do you keep your investors happy see investors are happy when there is growth investors are happy when there is transparency investors are happy when they can come and sit with you and and have a a a coffee or a beer where all their worries are attended and I don't think anything other than the growth motivates any investor and mine was growing so they were very so during this time if I ask what were your profits 600 cres dute yeah 600 CR when I had diluted my top line was 200 10 crores and profit was and profit was always 40% 40% which is close to 80 odd crores and you got a valuation of 600 crores during that time and then you also mentioned something about fixed deposit so you didn't take money out of the company and the company had cash balance plus fixed deposit of 100 crores that is not fixed that is the cash balance itself was the fixed deposit was 100 crores wow okay now it's thing I want the entrepreneurs to keep in mind I was a guy who has never taken salary out of the company even even after getting listed okay can you explain this Sir with numbers example numbers because not I did not take salary that's all full stop there is no number in it no salary zero zero salary okay why soer what will I do if I take salary you'll spend the money for what but that's because you got a secondary exit I got a secondary exit that 150 rupes in various Farms are invested and that is giving me returns but before the second you were taking salary I have never taken salary from the company from the day it was incorporated then how did you survive sir I was living inside the the campus and inside the premises so there was no separate house what are you saying sir when you were doing 80 crores in profits you do not spend that money or take that out in profits you lived in the campus sir why why not because you could live a rich life I didn't like to live a rich life I think that's where the frugality comes in so that this is so interesting sir 80 cres in profits and you live a Frugal life it is fascinating sir and when I was having 80 CR profit I was having an Innova car and that was the costliest car and that do in the in the company's name so that you can save taxes again amazing so this is something which you know me and my wife today I'll tell you it's very very important my first 24 years of survival was because of the frugality of my mother and my business success is because of the fality of my wife today my life is very safe secured only because the frugality of my children very very important so so when the second guy came in how much money did they offer or I should ask how much money did you quot I was thinking very very interesting if I I had done 600 a deal 18 months back right now I should not rise 100 I should raise 200 so 800 I was thinking these are all you know I am taking 3 minutes to explain you but the mathematics went through in 3 seconds very powerful mathematician and then if I say 800 by any chance if they cut the check it is done I don't want that to happen that means 600 becomes 1200 in 18 months and the guys agreed for it agreed for it yes then you must have thought only one meeting and they agreed for it then you must have thought you should you must have said 1500 there is no end to it but I got what I dream and I got I diluted there was again 25% 10% 10% so 25 + 10 35% is outside and you got 150 crores plus 120 crores 270 crores yes that is insane [Laughter] sir so that's how the private Equity guys were inside and 5 years went through for the first guy he wanted to go out and he could didn't buy a party who will Who was willing to purchase his stock at his dream price so he came to me he ask me can we do an IPO in the boardroom I agreed we can do a IP without blinking an I I agreed for an IPO how come sir I'm a thrill mongus so because IPO brings in a lot of Regulation exactly so my family was very concerned so they took me aside and told look uh let them buy let them sell for another guy you don't I told them I want to do because I want thrill in fact I tell you how this dialogue with my family member has gone through look I left only for thrill otherwise I would lived in I married a Bombay girl only for a thrill I left a government job only for a thrill I took private Equity guys inside also only for a thrill not because the company needed money now I want to do an IPO so IPO was in May 2016 and uh uh first day itself it got subscribed three times second day it got subscribed 15 times then I thought third day it might even go to 40 times but third day when the Clock Struck 4 in the evening it was 7 4 times subscribed 74 times my God first time after 10 years of L because of Anil Amani's Reliance power failure stock market was dull and it was this madrasi who brought light brightness to the stock market 74 Times subscription and what valuation did you list at I reached I went for an IPO at a valuation of 2,400 and when it got listed it got listed with 60% upside 3,300 CR off a billion dollar 3,300 cror yes half a billion dollar market cap it got listed from one rupee a day to 3,300 crores how did your wife react to it sir first how did she react when she when you got 150 cres you asked such a question how it how did she react to 3,300 and unfortunate parties I lost her I lost my wife 50 days before IPO 50 days before IPO 50 days before IPO February 12th I last and in the month of May IPO was there and 50 days before her death we came to know that she had grade four p creatic cancer so that way uh you know when I sold 25% we celebrated that we could reach to such a stage and when I did another dilution at 1200 it was kind of uh you know Cloud n and then when the IPO when it reached 3,300 he was not there to ring the bell and in fact that became one uh that in fact was the primary reason why exited the company because somehow felt that you know you were having an Everest Expedition with you were best of the companion in life and just you see the peak there and only 50 m left out and see leaves your hand so that's a very big uh uh Daka kind of I think we didn't talk about how did I get married yeah so that's what was my next question we will come to that once I finish this so it is something like this uh I didn't want to marry my wife I was trying to delay refuse and then finally agree to marry I left the job with the hope that she is is working with bank but she got annoyed that I decided to leave the job without discussing with her okay so she also left the job and both of us together traveled in this journey for 24 years to reach there so she also joined Tyro yes he was a uh backbone of my entire Journey sir you speak so highly about your wife and you know someday I also aspire to speak about my wife that way and companionship in today's world is is something that is a rare site today everybody just wants to marry for selfish reasons relationships are extremely shallow back then I would like to think that during the good old days relationships were deep and real but today they are shallow and unreal in the wrong way so you mentioned that your wife has always been the backbone of your company and your life and she left her job at the SBI to join your company while you were thinking that you can live off her salary how did this happen sir what was she thinking see the marriage itself went through some path which unusual I'm from a village and a village which was even today is not in taluka map my wife was Bombay born brought up girl so marrying City Girl by a village born boy is not that simple decision as soon as I landed in Mumbai in 1982 my father-in-law was working in VC so he cited tall dark handsome by and then he felt for his daughter who is equally tall dark and beautiful uh should be a good map match and he was walking to me but uh I refused because for me marrying a Bombay girl wasn't logical why sir because you are from a village and it won't match with the she may not respect my parents and my parents as such were very scared that son will be hijacked I by bomb girl and you were hijacked hijacked now if I can't go and tell my mother it was not a love marriage my father-in-law only proposed he's not going to buy the arguments and then uh I refused in 82 I refused in 8 3 I refused in 84 and in 85 my father-in-law again comes and proposes you refused your father-in-law for 3 years three years why sir that's what I'm saying that gut na courage na to marry a Bombay girl because if things go wrong uh it's a disaster then what did he see in you that he pursued years I'm a government officer and I'm making sense stable job secured job plus tall dark and handsome dark and handsome and then one day I felt must see the girl but by four years period i derived some kind of confidence I decided to go and have a look at the girl and went to her house and house was not properly illuminated and uh according to standards of expectations of my mother she was falling short otherwise I can convince my mother what was her standards standards in sense she was color wise only my color and you know down south a fair color enjoys a big premium and then I thought no I will not move ahead okay but I didn't tell it so I came home and then for 2 three months I didn't give any answer he should have understood if boy doesn't come back he's not interested but again he kept on walking I was living in a maharan house as a us I told my land lady I am not in she managed five times then six times he told now I can't keep on telling lies this man po man comes you have to tell no if you are no she advised so I said I must tell no but then after seeing the girl saying no to the father is not an easy job it's a you know kind of stressful job so my again mathematics mind went very fast why not I meet the girl again and refuse meet the girl again discourage so that she refuses oh good plan good plan so when to meet her she was working in State Bank of India Madame Kama Road nariman Point international division 14th floor on a Saturday half a day she had a office so I was there in her office and uh we had 1 hour time in 1 hour I talked 55 minutes I only talked 55 minutes what did you talk wa and 5 minutes absolute silence was there I decided I must marry her she didn't talk at all and the office was well illuminated I felt the she is not that bad uh like hard she look the other day and I thought let me uh uh you know no no before that I will explain you what I topped in 55 minutes uh in 55 seconds I will explain you we I don't have a house I living in paying gust inside anikar lifelong paying gust don't expect me to buy a house be prepared a house is there in the village there is no toilet you must understand how to live for my parents I the earliest sorry eldest son uh every respons responsility of parents is yours for my siblings I am the eldest their marriage is your responsibility for our marriage I don't have money and you spending money for our marriage your father should not know so these are the conditions I told her I waited for her response stunned face no reaction and I told her if you still want to marry me you can send the father to home and if you don't want to marry me you tell him something is wrong with this boy no problem I think I left and reached home and my father-in-law came that night to my home that means she had already made up her mind to marry so this is how the marriage went through I explain I reduced all her expectations and nowadays I put in in stagram a real telling that unwanted expectations only are the major reasons for diverses I by the by the way I want you to understand 3 months after engagement before marriage I asked her what did you like in me in spite of me telling so much you still wanted to marry me what she said was I didn't want to be a short daughter-in-law in a tall house I wanted to be a tall daughter-in-law in a short house I think that was very powerful of her to think in that direction and she also said I know you are a Storyteller because which boy will tell I don't have this I don't have that in front of a girl whom is likely to marry you were only trying to discourage me they understood everything we got married and that's how uh marriage was delayed otherwise I'm I would have married three more three years back back same girl and then uh she supported me to do MC PhD she supported me in every way she take took care of children in spite of a working lady her salary was always more than me for 10 years when she was working I could never surpass her salary and then good mother-in-law father-in-law good two children everything was in place and that was the time when I took a decision to leave the job because I had a breakthrough in my thyroid research and one fine day I am sitting in office on a Friday I am opening and seeing my drawer my closing balance in SBI pass book where me and my wife a joint account holders was 2 lakh rupees 2 lakh rupees in 1995 is approximately 2 CR rupees as of today in money value really of course two zeros only it is added now wow and that is because you lived frugally I lived frug now what my wife did both salaries coming to the same account and she never touched my money she only used half of her money and she saved the remaining money and I have 2 lakh rupees in a closing balance where my family monthly expenditure was only 5,000 which means 40 months my family is safe tick number one and I want to give an advice to all entrepreneurs aspiring entrepreneurs if you want you can take risk of your life you have no right to risk your family that is so important sir 40 months family sa means I am not taking their risk I am only taking my risk tick number one tick number two I was the only guy in the entire room who did not have a Emi I didn't buy a three-bedroom Hall kitchen which others have already bought so zero Emi tick number two tick number three my wife is working with State Bank of India [Laughter] [Music] I didn't tell anything night 2:00 my wife is asking I told her I have resigned know night 2:00 if I tell I have resigned that's truth and until that time she was horizontal then she got up and put the light on and looked at me and she told me after 10 seconds of silence is it out of rebellion or support threat annoyed that I didn't discuss with her such a big decision of M so until that time I was horizontal then I also became vertical and I told her a both of us gave up job on the same day my son was 5 years my daughter was 3 years I was 37 years she was a bank officer I was a government officer and life comes to zero and that's what I tell some of some of my talk will have a title romance with risk the bigger is the risk the biggest is the rewards and thrill manger nights so this is very very important and 3 months again after she taking decision and we were working on thyro care I asked what was nonsense you also took a decision like that she send a punch line you know you will win I also know you will win but no one knows without me you can't win that kind of support that kind of believe blind belief and faith that the husband can never go wrong there comes that punch line if your spouse trusts you your energy is 10x and if the spouse doubts you the energy is 1x I had enormous support my wife who was the one who was behind me backbone I used to work in the night she used to work in the day and we lived in the laboratory if you have to understand what is the role what was the kind of work she was never given a designation she was never given a remuneration she did all what I said she should do she did all what I forgot to say she did and all what she could do which I could not even imagine she did that's a very powerful role very powerful contribution which says that you should always choose a spouse with whom you can brainstorm and grow together grow together so that makes the that Journey very unique and the day I came to know that she has a pancreatic cancer that was the biggest blow in my life and then IPO she wasn't there while ringing the bell I used to tell her until 60 we will work afterwards we will hand over the company to children and we will go to 100 major cities in the world and in each City we will stay for a month this what was our Dream because we never went out we were completely obsessed both of us never took vacations we enjoyed in other words the success of this journey was only because the distance between the bedroom and the boardroom were only 10 m so one question off topic given the choice to go 10 years back when you had a lot of money with this 150 CR secondary and everything would you have done the 100 country trip back then no uh had I known that there is a small pancreatic cancer getting ready I would have done it but then I never expected we thought we will live for 70 75 and all these pressures all this streamlining if we do children will comfortably sit and run the business but if you ask me one thing which I Repent I didn't do preventive test for my wife I should have was just ultrasound which detected in the mouth of the pancreas there is a uh tumor which had I done some four five years earlier it would have been diagnosed so that is [Music] something that's one big disappointments so my last question is if somebody has to choose a spouse how should they do it because you've done it in the best possible way I don't think I have used my brain to pick up the best I think it is a matter of probability uh each person loving each other unconditionally is one in Thousand fortunately I was there but uh I think 10% of the couples remain happy because because they don't unnecessarily keep comparing with each each and other person and sit and cry don't compete collaborate yes collaborate and sometimes both realize we have limitations and they think that Mutual coexistence is the maximum pleasure we can have uh we agree to disagree but we agree to live together this is something which very often is the success formula but having said that earlier there was some kind of economic dependence between the spouse which force people to forgive forget and live together today you know yesterday only I was I was telling this punch line to someone instant punch line in in this era First Love at First Sight and divers at first fight has become the order they both are wrong right and as long as L at First Sight are there divers at the first fight will be there one has to go logically I think I am a little more popular in insta because I'm talking about relationship what what goes wrong how to minimize how to not to ovx how to be honest how to reciprocate all those things play a role every man thinks I will be what I am the other person should understand that's not going to work the male dominated patriarchial Society will be dead after 2050 so my last question three words if you were to use to define a great entrepreneur what would those three words be I think Focus continues toind my first word of searching the man is doing everything not focused on one thing man is doing irrelevant things in a greed not doing one thing Focus plays a very huge role if he knows what not to do I love him so Focus reminds second is frugality if his uh personal life and if his position as a leader uh both are too much of financial mess I will not be Keen to more motivate him to or invest in his company so somebody's spending 10% of their income is that good it's not the percentage how minimum okay you know today even if I spend 5% of what I make it is obscene understand so as long as I see how he is how his car is how his in fact if I see his last 6 months Savings bank account list I can tell you this man is wonderful so Focus frity the third one is discipline the growth is never a problem sustaining the growth needs discipline success is never a problem sustaining the success needs discipline very often all leaders are indisciplined and they want all their followers to be disciplined that is not going to work so discipline to you is going to the office at the exact same time being punctual working every day is that what you're saying no only work focused on the work work only for me work only for my family only for my employees and their success is discipline right and in between going for macius for 10 days having a break boss and come back and you will will feel something has leaking somewhere n dur durat discipline is that amazing Focus frugality and discipline thank you so much sir it's been a pleasure we sat here for two and a half hours how did you feel I also enjoyed as long as the you know I am a man who love to talk and if questions are asked I derive a lot of happiness that he is asking this question I have wonderful way of presenting it so I have enjoyed in the last 10 years I have invented my talent of uh delivering punch lines I just met rajin Gans 20 days back okay and he gave me 45 minutes he knew me and he appreciated my journey so that way uh I am a man who can keep audience engaged uh for an hour or two uh with they watching the watch I do not watch the watch sir so that's how it is thank you so much sir it's a pleasure to have you good [Music]