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Why Failed

Failure story of Sunil Bharti Mittal

Sunil Mittal started his entrepreneurship journey at the age of 18, with a capital investment of 20,000 borrowed from his father. His first business was to make crankshafts for local bicycle manufacturers.Within three years he had set up two more plants, one that turned out yarn and the other stainless-steel sheets.The initial days were very difficult and he earned very little from these ventures. He was putting in 16 to 18 hours each day, but his business just didn’t grow.

Sunil Bharti Mittal sensed that the business would remain small and therefore he moved out to Mumbai after selling the bicycle parts and yarn factories

Not successful in his first business.

In 1980, he started an Import company named Bharti Overseas Trading Company. In 1981, he purchased importing licences from exporting companies in Punjab. He then imported thousands of Suzuki Motors’s portable electric-power generators from Japan. By 1982, he had started a full-fledged business selling portable generators imported from Japan. In 1983,the government banned the import of generators and granted the manufacturing rights to just 2 companies.

Sunil Mittal was out of business overnight.

Mittal says, “In 1983, the government imposed a ban on the import of gensets. I was out of business overnight. Everything I was doing came to a screeching halt. I was in trouble. The question then was: what should I do next? Then, opportunity came calling. While in Taiwan. I noticed the popularity of the push-button phone — something which India hadn’t seen then. We were still using those rotary dials with no speed dials or redials. I sensed my chance and embraced the telecom business. I started marketing telephones, answering/fax machines under the brand name Beetel and the company picked up really fast.”

Source : bizztor

 

Ananth Dutt

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