Mr. Sarfaraz Lakhani of Calibre Creators had the opportunity to interview Mr. Saurabh Kulkarni of Thane, Mumbai who has tasted Entrepreneurship and seems to be basking in its glory.
At a very young age, he along with his friends-turned-partners, plunged into entrepreneurship, establishing two companies - starting a garment manufacturing company and also taking up the franchisee of an Indian fast food chain.
CC.1 Saurabh we worked together earlier and now its sheer pleasure to be interviewing you. How does it feel?
SK: Sir, its my honour that you considered me for an interview since my experience is not that much to be eligible for one. I’m and always want to be a learner. I have learned many things from you e.g. time management, people management, idea generation, etc. and it has been a great learning experience which I will cherish for a long time to come. These will be my guiding posts in my future life and career journey.
CC.2 Saurabh, tell us why you chose to be a Bio-Medical Engineer and what was your vision then?
SK: I always wanted to be an engineer from childhood. I was good in Science, especially Biology, maths and engineering and had some interest in it too, so it was logical to get into Bio-Medical Engineering. As for the vision part, I have for long dreamt of starting something of my own and do something creative.
CC.3 You then pursued a Masters degree in Hospital Administration. What took you to that route?
SK: In third year of Engineering, I realised that I needed to choose between working in the IT sector as a programmer or working in hospital as an Engineer. However, I chose neither of these two and opted to pursue higher studies, clearly looking at the low compensation levels being offered and limited career options, in my opinion. I wanted to pursue a Master’s Degree in later part of professional career but then I realised that rather than delaying the decision later, why not do it now Also, we had been introduced to the subject of Hospital Management as part of our curriculum and it got me thinking and hence the decision.
CC.4 Why did you opt for Sales as against pursuing a career as a Bio-Medical Engineer or a Hospital Administrator, either with a Hospital or a Medical Equipment manufacturing company?
SK: After getting into Hospital Management (MBA), I always got internships in Marketing & Sales function and I liked the part of meeting newer people and getting wider exposure about the functioning of the healthcare sector. It was then that I decided to pursue this as a career choice since by this time, I had somewhat lost touch with the technical aspects of Bio-Medical Engineering. I was now exposed to the larger aspects of healthcare and hospitals. I could look at a much bigger opportunity rather than restricting it to just being a bio-medical engineer and it really helped.
CC.5 You seem to have suddenly caught the “entrepreneur” bug. What was that turning point in your life when you decided to be an entrepreneur and was it a sudden event?
SK: I wouldn’t say that it was a sudden event. After my stint at AHI, me and my friend who are now my partners thought of starting something of our own. During every outing, we would touch upon this and kept the discussion alive. After a bit of market research, we narrowed down on the clothing segment. We initially started on a small scale and at a very slow pace so that we learn the nuances of the business and not end up making major mistakes. Till the point, I was in AAA HealthCare, my two partners were handling the pre-requisites and after exited from there, I got actively engaged in the venture.
CC.6 What challenges did you encounter and how did you strategise to overcome them?
SK: The sector was completely new for the 3 of us. We initially spent 6-8 months meeting people, knowing new things, exploring the market, understanding the market potential, specific requirements, etc. Since we were completely new to the sector, we had little or no understanding of the supply side of clothes, manufacturing and sales. People were not willing to entertain us but there were some people who valued the quality of our work and gave us the opportunity to do business with them. People negotiated on rates, terms and duration of payments and they were important because we did not have much working capital to play around with.
CC.7 What is good and the flipside about being an Entrepreneur?
SK: The good part of being an Entrepreneur is that you get to learn all the things that are required to run a company starting from market research, managing funds, your product, marketing promotion, sales, client relationship management, etc. The flipside is that your family should be supportive enough to understand the pressures.
CC.8 Most entrepreneurs would have started with one line of business and given it say 3 to 5 years but you seem to taken up two divergent industries and unchartered territories. How do you manage this?
SK: It is not tough if you ask me. Every person is good at multitasking and it must be given a try. We also faced many hiccups during this process but we persisted. An entrepreneur should be a leader who passes his strengths to his team, in turn, creating many more. Once you have learned to do that you can manage 2 or more businesses. It also depends on the scale of the business. Also, we saw that these were opportunities that we could easily take up. We shared the responsibility but were collectively involved. The understanding between the partners was well laid down and all issues and problems are resolved through a healthy discussion.
CC.9 You are a Bio-Medical Engineer at core. Any plans to venture in this sector too?
SK: Definitely yes, I’m a Bio-Medical Engineer at core which is one thing that makes me restless and motivates me to do more and to do something in that field.
CC.10 Most young people believe it is easy being an entrepreneur. Please comment.
SK: Not at all! It is a gross misconception. There is nothing easy in life. As they always say “the grass is always green on the other side” which is not the case. It is way tougher than you think because your entire future is at stake. There are times, when the anxiety levels are very high and can be an unnerving experience. However, If it succeeds, nothing like it but if it does not meet the expectation, then it affects one very badly, not that one should take it personally. There is always a 50% chance of success right from day one and therefore it requires perseverance, commitment, energy, enthusiasm to put all that behind and look ahead. If one has the courage, then anyone can
What we learnt and realise is failure is not bad as it is made out to be. It leaves us with lots of learning’s and there are so many things to imbibe before one rests, before age catches up and when you have to then go slow. We are all roaring to go!
CC.11 What Risks and Benefits did you weigh before becoming an entrepreneur?
SK: The major risks are that till the time your business isn’t set, you will have to be dependent on your family for sustenance and I have been fortunate on that count. You will not be having any stable income coming in every month and which pushes you harder. Benefits are that you will become an all rounder who knows everything from every department and that stays with you for life.
CC.13 Please list your learning’s and challenges and what did you learn from them?
SK: My learning’s are:
1. Always spend wisely. Think 10 times before spending as you might need that resource in future when needed the most.
2. You become self sufficient to encounter any problem.
3. You get a whole new approach to look at life.
become an entrepreneur.
As far as challenges go, I can say that
1. Be sure before quitting your job to become an entrepreneur.
2. In today’s age, always start a business in partnership. Have partners that are always with you in your toughest times.
3. Most importantly, convince your family and take them into confidence if you want to be an entrepreneur, because if you have the support of your family then on emotional front your mind is stable. You can concentrate on your business.
CC.14 What are some of the key differences in being a professional corporate employee v/s being an entrepreneur?
SK: A professional corporate employee is like wearing “horse blinkers” who always looks at only his assigned core responsibility while an entrepreneur is an all-rounder who has to know everything about his business from all departments. The vision gets wider, the exposure to is unlimited, success gives your courage to still move forward to move higher and higher. It gives him energy and the push to succeed and expand his business.
CC.15 Young entrepreneurs rise early and have a long stretched day. What are your first thoughts in the morning about the day and what is your daily routine?
SK: True. They rise early and have a long-stretched day and thinking about 1st thoughts in the morning is to plan your day, prioritise according to the need, attend to business demands and can be very hectic at most times.
Saurabh, Calibre Creators wishes you a successful entrepreneurial journey and that you may achieve your goals and aspirations to become an industry leader of the immediate future.
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