Never had money to buy slippers, used to sleep at the station; Today the owner of ₹ 5000 crores, know who is Dr. A Velumani?
New Delhi “I never wore slippers or shoes till 11th… I didn't even have full clothes to wear. There were many days when I had to spend nights at the station.” This is the story of Dr A Velumani, who today owns assets worth more than Rs 5000 crore. The interesting thing is that he calls himself an 'accidental entrepreneur'.
He himself said this in an interview. Now the question is, who is Dr. A Velumani and what work does his company do? How he turned a small idea into the biggest healthcare company of the country. Let us know the success story of Dr. A Velumani.
Who is Dr A Velumani? (Who is Dr A Velumani)
Dr. A. Velumani is 66 years old and is the founder of India's well-known diagnostic company Thyrocare Technologies. This company is known for providing thyroid and other blood tests across the country at affordable rates. He implemented a 'high volume, low cost' model in the pathology industry, making tests affordable for the common people and the company grew rapidly.
Poverty they call 'luck'
Born in a small village in Tamil Nadu, Velumani himself says that he was poor. Father did not have regular income. The mother was raising five children. There was a shortage of money at home, but it was from here that he learned the power of problem solving. Dr. Velumani tells that he was the eldest in the house, hence he had to assume responsibilities at a young age. He told in an interview that,
When you are poor, no one helps you. You become your own leader.”
Study, job and then a big decision
Velumani continued his studies, progressed in science and did MSc and PhD in Thyroid. Later he got a government job in Bhabha Atomic Research Centre. Life had become stable – good job, fixed salary and secure future. But around the age of 40 he realized that,
Comfort zone is a danger zone i.e. the comfort zone is the real danger.
He left his government job in 1995 without any major business plan. He took this step because of 'thrill' and 'habit of risk taking'.
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How did the idea of Thyrocare come about?
Dr. A Velumani describes himself as an accidental entrepreneur. He had told in an interview that he did not dream of doing business. But one thing was clear - "He had a deep understanding of the thyroid subject."
He observed that lab tests are expensive and small towns do not have good testing facilities. They decided to create a centralized, technology-based lab model where samples could be processed on a large scale and costs would be reduced.
His focus was on one word – ‘focus’. He says that I focused so much and understood that people do not understand thyroid and thyrocare separately. After which they decided to make Thyrocare.
Got the idea from mother and started a company without debt
A special thing about Dr. Velumani is that he founded the company almost without debt and without big investors. He says-
Success is not how much money you make, success is how little you spend. Success is not how much money you earn, real success is how little you spend.
He got this thinking from his mother, who used to run the household with very limited resources.
How was the net worth of ₹5000 crore formed?
Thyrocare gradually spread across the country. The company got listed in the stock market in 2016. Large scale testing, low prices, strong brand all this took the company to a value of billions. Later he decided to exit by selling his stake. This deal took his net worth above Rs 5000 crore.
Wife dies of cancer before IPO
Another big reason behind their success is simplicity. Even today he is against wasteful expenditure. It is said – Success is not how much you earned, success is how little you spent. His wife, who worked in a bank, was with him in every decision. She passed away from cancer shortly before the IPO. After the death of his wife, he decided to exit the company.
Feeling emotional, he himself said that,
I lost my greatest strength at the time of the company's greatest happiness. The one who created me is no more… then what is the use of money?”
Perhaps this was the reason why he exited business and chose a simple, peaceful and close life to nature.
Lessons from Dr. A Velumani's story
Dr. Velumani's story shows that poverty is not a hindrance, sometimes it is the greatest training. An ordinary boy, who reached Mumbai with Rs 500, created a fortune worth Rs 5000 crore, that too on the basis of focus, simplicity and huge risk. Dr. Velumani's story teaches us - learn yourself, spend less, give up excuses and choose challenge, not comfort. Surprising? Despite so much wealth, till today his identity is still a plain white shirt.
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