RENDEZVOUS WITH BL MITTAL-CHAIRMAN, SASTA SUNDAR AND DEEPAK JALAN, CEO- LINC PEN AT KOLKATA
I am connected to Mr. B.L. Mittal, Executive Chairman and Founder Sasta Sundar on Linkedin. I came to know that Mr. B.L Mittal and Mr. Deepak Jalan are going to deliver a talk on Entrepreneurship at Duck Back house, at Shakespeare Sarani Road at Kolkata.
All India Marwari Sammelan has organised this event. My dilemma was whether I could attend or not, since I am not a Marwari. But my thoughts and vision are like that of Marwari, having a strong resemblance to this community. I have always admired this community for the spirit of entrepreneurship.
I make the best use of Social Media to connect with all Entrepreneur, Businessman, Industrialist, Start-up Founder, Newsmaker. These influential people are always my source of inspiration, and spending time with them gives me motivation and positive energy.
jahan na jaaye, rail gaari, waha jaaye Bail gaari, jaha na jaaye Bail gaari, waha jaaye Marwari.
Speakers:- Mr. B.L. Mittal – Executive Chairman, Sasta Sundar, and Mr. Deepak Jalan – CEO, Linc Pen
Date & Timing :- 1-Dec-2018 at 3 PM to 5 PM
Venue:- Duck Back House, Shakespeare Sarani Road, Kolkata.
Organiser:- All India Marwari Sammelan
Mr. Shiv Kumar Lohia, National General Secretary, gave the welcome speech. He said that previously Marwari Businessman used to rank among the top 10 in India, but now they do not list anywhere in Top 10.
He said that it is a matter to ponder over, why such a fall has happened. Marwari youth are now more inclined towards the job. They are not willing to take the risk.
He said that Accounts and Finance run in our blood. We do not need to do MBA. Youth should only aspire to become Business Man; they should be a job creator and not job seeker.
He told that in the pre-independence era when the Banks were not present in all parts of the Country, Marwari Hundi’s were present in the nook and corners of the Country.
Marwari Businessman needs to catch up with changing Technology and Market dynamics.
He said that in Tech Space some of the Marwari have achieved a feat. He named few successful new generation Entrepreneur like Mukesh Bansal, Dinesh Agarwal, Bhavesh Agarwal, Ritesh Agarwal, etc. belonging to Marwari Community.
He said that All India Marwari Sammelan was started in 1935. This organisation has always stood for the community and does a lot of social service for the community.
He requested the Businessman to recruit people from the community itself and also asked the youngster seeking a job to register with them so that they can help them find jobs.
He concluded his speech on a lighter note telling a story. In one village, an old man was dying, and all his sons were attending to him at home. The Old man said, “why all of you are dying here? who will go to the Shop?” This story sums the psychology of Marwari people, they are more concerned about their shops and business, even when they are dying.
B.L MITTAL – EXECUTIVE CHAIRMAN, & FOUNDER SASTA SUNDAR
Mr. B.L. Mittal is the founder and Executive Chairman of Sasta Sundar. He is a certified Chartered Accountant. He started his career at Birla Group in the year 1992.
He said that when he completed his College, his father told him that, he could not afford his education and now he has to self-fund it if he aspires to study further. He came to Kolkata from his village in Rajasthan to pursue Chartered Accountancy course.
He used to stay at Bara Bazaar of Kolkata and sleep in Gaddi(shops) at night. One day he saw an Advertisement in the newspaper for a Hindi Typist. He went there for the interview and found that he was the only person, who had come for an interview. He could quickly sense that his chances of getting a job is high, since finding a Hindi Typist in Kolkata were difficult, at that time, so he bargained his salary for a high amount, and this way, he was able to fund his C.A education.
He said that Bara Bazaar is the largest incubation center according to him. It has produced more than 25,000 Chartered Accountants and owner of many Unicorn company.
He said that he had started his business from Zero Capital. He is a self-made Businessman in the real sense.
He said that Businesses which were Big, earlier would collapse and die someday. Previously Big Brands were SBI, LIC, Coalgate, etc . and but now big brands are Facebook, Flipkart and Paytm.
He said that it is a natural phenomenon, one who is born, will die someday. Same goes with Brands and Business. He emphasised that perpetuity is nothing. If the core value of your Business is customer service, then it can become perpetual. You can change your body, but you cannot change your soul.
He also advised fellow Businessmen, not to lose focus. Some people now and then jump to a different business, and hence they remain unsuccessful. He warned not to stand on two boats.
He also advised that sometime, it is necessary to kill business and move ahead. If a person has died in a family, then you must dispose of the dead body, as quickly as possible. Same goes with Business.
He cited his examples that before starting his Sasta Sundar Company, he sold his previous venture Microsec.
He said that it is essential to know your core competency; can somebody copy your core competency? Can somebody do it better than you? These are the questions; every Businessman should always ask and find the answer to it.
He also said that it is essential to sacrifice short-term gain over long-term benefits. He emphasised that in Business, it is necessary to be unique and useful in business.
He advised fellow Businessmen to follow proper Corporate Governance. He said to follow Government guidelines, taxation policy and keep Accounting Book very clean. He urged being honest and truthful in our dealing.
He said that now Kolkata has become the most polluted city in India, and it is of concern to everyone. Pollution can decrease the GDP growth of a nation. He said that once he was in Japan and his partner told him that someone very young has died. Mr. B.L. Mittal asked him, what was his age, and the reply was only 65.
Everyone in the audience burst into laughter.
He also advised Businessmen to build Brands. Brands have a longer life and create more value.
He also spoke about his Company Sasta Sundar, which has now a presence in 5 states. It is present in all the 22 districts of West Bengal. They are building a network of online to offline model (O2O), connecting HealthBuddy. At present in West Bengal, there is 1 HealthBuddy for every 3 Kilometer.
He said that he is on a mission to supply genuine medicine at every doorstep at low cost. He is working on a franchise model named HealthBuddy, where HealthBuddy need not maintain any inventory and only required capital is Rs. 200000(Two Lakh only) and minimum 120 sq.ft space.
He also shared some shocking stats regarding Indian Health Care Industry.
- 25 % of the drugs sold in India are forged.
- 74 % Nutrition constituents are a replica
- 60 Cr. Indians do not have access to proper Health care
- India is the largest producer of Drugs.
- A large pool of talented Doctors.
ACHIEVEMENTS & PLAN OF SASTA SUNDAR
- Handling 1.5 lakhs orders per month
- Presence in 5 states
- Ambition to reach 1 Cr household customer
- Plan to expand pan India
- To Build 15 warehouses
- To add 6000 HealthBuddy
- Started a diagnostic center named Genupath
- Planning to start B2B channel in the name “’Retailer Shakti Supply Chain.”
Sasta Sundar HealthBuddy is a subsidiary of Sasta Sundar Ventures Ltd, which is listed at both NSE and BSE. A Japanese company named Rohto Pharmaceuticals Pvt. Ltd has invested $ 5 Million.
He told fellow Businessmen to measure Success and failure based on life goals. He said to be like a child, and it has worked very well for him. A child when falls, he quickly stands up and then again starts to play. Always learn from mistakes and continuously hone yourself.
He advised spending fun time with family and friends. He said that he chose this name Sasta Sundar, which exhibits customer’s aspiration to buy high-quality products at affordable prices.
Sasta Sundar is on the Growth path and ambitious to grow pan India.
He also shared some one-liner wisdom quotes from Marwari community.
He said that a servant told his Rich owner that an elephant is being sold in the market for Rs. 1 only. The servant advised him to buy it since it is priced very cheap. The Rich man replied that but it will eat feeds also daily for Rs. 1 and he declined the offer.
He also shared another Marwari quote “1 Punji, Zameen 2 baar, Guni 3 baar”. It means to keep working capital only what is required, have lands twice your requirement, maybe in future, if your business does well, you may need it for expansion, Technology and knowledge keep it thrice than your requirement.
Capital:– 1 time, only what is required
Land;- 2 times, more than your requirement
Technology:- 3 times
1 Punji, Zameen 2 baar, Guni 3 baar
He also shared another Marwari quote, “Tibra me Paani, Nau lekha”. He narrated that once a rich Marwari was traveling through the desert on a camel and his water has finished, and he was feeling thirsty, and then he saw a woman carrying water on her head, and asked her for a glass of water. The lady asked him to give his necklace in exchange for a cup of water, which was worth rupees nine lakh. He said that from this quotes one learns that managing liquidity is the most important in business.
Tibra me Paani, Nau lekha
DEEPAK JALAN – CEO, LINC PEN
Deepak Jalan is the CEO of Linc Pen. He is an entrepreneur by birth. His father Surajmal Jalan started this Linc Pen some 40 years ago. His father had a very tough time starting this company. Having come from a village in Rajasthan and without any capital, he did the odd job to survive in Kolkata.
He went from door to door selling pen. In the year 1976, Surajmal Jalan started Linc Pen & plastics from a rented house. His son Deepak Jalan joined this business in the year 1980 as a sales trainee. Under his leadership and hard work, the company has grown by leaps and bounds.
Mr. Deepak Jalan said that while he was in school, his friends were sons of Business Tycoons belonging to Steel, Cement Business. He always felt inferiority complex among his friends, as he belonged to a small pen manufacturing family. He ever had the urge to do something big in his life.
He still remembers, once his uncle told him “Deepak, either be small or be Big, these middle things are not respected.”
In the initial days, he looked after sales, visiting the stationary shop, getting orders and dispatching products. In those days, they used to sell in 60-day credit that was the norm. Now they are selling in advance.
He quoted from Warren Buffets saying “If you don’t find a way to make money while you sleep, you will work until you die.” Taking inspiration from this quote, he spearheaded into exports to the USA. So that he can make money while he is sleeping in Kolkata, and on the other side in the USA is a daytime.
If you don’t find a way to make money while you sleep, you will work until you die.
Linc Pen has a turnover of Rs. 360 crore, out of which Rs. 100 crore is from exports.
He also quoted “If one can do, you can also do; but if no one can do, you must do.” He advised fellow Businessman that nothing is impossible.
If one can do, you can also do; but if no one can do, you must do.
He told that when his son Rohit Deepak Jalan joined his business after completing his studies. He said to him that he would have to prove himself to become a Director. Deepak Jalan sent his son to Kerala, which was one of the weakest markets for his Business. His son was able to penetrate deep into the Kerala market and grow the Linc Pen Brand.
Mr. Deepak Jalan said that in business, speed is also significant. A businessperson must create differentiation and uniqueness in their product.
He advised not to lose honesty and integrity; these are an integral part in Business.
He said that sometimes it is okay if you are not able to make money immediately, but make sure that you make money in the future.
He suggested ways to make a Brand
- Create a good product
- Keep price competitive
- Effective distribution
He advised Businessmen to make their work enjoyable since it is a long journey.
He said that the Global Pen market is worth Rs. 50,000 Crore, now his turnover is only Rs. 360. So he sees a lot of scope in it. He is not thinking of diversifying into other fields. He tried once to enter Movie production with a film named ”Shakal Pe Mat Ja”, but he failed and learned the hard lesson.
It was one of my most inspiring moments, listening to Mr. BL Mittal and Deepak Jalan. These inspiring people shared a lot of knowledge.
They spoke very frankly about their humble beginning and shared some of Old Marwari’s quotes, which were insightful.
Listening to them answered my doubts, why all leading Businessmen belongs to the Marwari community? It is in their Blood, they talk about Business at the dining table. They do not consider Business as work, they regard it as part of their life.
They enjoy every moment of being a Businessman, and this is what makes them achieve success. These speakers encouraged youth to take up entrepreneurship.
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