Inspire Someone Today
Inspire Someone Today
E152 | Turning Constraints into Catalysts | Dr. A Velumani
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Dr. A. Velumani's journey reads like a masterclass in defying expectations. Born in abject poverty in a small village near Coimbatore, studying in a single-teacher school with just a slate and plate for midday meals, his childhood was defined by scarcity. Yet this foundation of simplicity would become his greatest asset.
"When you have nothing to lose, what are you worried about?" This philosophy propelled Velumani from government scientist to healthcare entrepreneur. After 14 years at the Baba Atomic Research Centre, he left security behind to start Thyrocare with minimal capital. His revolutionary approach - focusing exclusively on thyroid testing, centralizing operations, and implementing a franchise model - disrupted India's diagnostic landscape.
What makes Velumani's story remarkable isn't just building a ₹5000 crore company, but how he did it. Never taking loans. Growing 40% annually. Taking the company public with a 75x oversubscription. All while maintaining the frugal mindset that shaped his childhood. Even after extraordinary success, he continued flying economy class and living simply, explaining, "When the briyani has come so well, why play with the recipe?"
The wisdom Velumani shares transcends business. His five pillars for success - knowledge, patience, focus, frugality, and discipline - apply universally. As he explains, success isn't about becoming an employer versus employee, but about developing expertise and making decisions with conviction. After exiting Thyrocare, he now dedicates himself to "mass mentoring," sharing insights with aspiring entrepreneurs nationwide.
Join us for this profound conversation with a man who scaled quietly and left a legacy that speaks volumes. If you're seeking genuine inspiration rather than startup hype, Dr. Velumani's journey from barefoot village boy to healthcare pioneer will fundamentally change how you think about success, wealth, and fulfillment.
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Village Beginnings and Humble Roots
Speaker 1So all these things give only a background that Velumani was under preparation for facing tomorrow. According to nature, according to me, I thought I will wait until I get 18 years old so that I can join in a nearby textile mill for a job. In a recent interview I was asked a question that, velumani, if you have to relive your life, what points you will change so that you have a better outcome? I told them that when the briyani has come so well, why to play with the recipe? There is a powerful communication of mine on stages. When you have nothing to lose, what are you worried about being a mathematician? I am into medical business. Every MD pathologist. Who is this man? This man appears to be a technician.
Speaker 2Welcome to Inspire Someone Today podcast, a show where we dive into the stories and insights that has the power to create ripples of inspiration in your life. I'm your host, srikant, and I'm thrilled to be with you. Create ripples of inspiration in your life. I am your host, shrikanth, and I am thrilled to be with you on this journey of inspiration. Listeners of Inspire Someone Today, welcome to this special episode celebrating the 5-year anniversary of Inspire Someone today.
Speaker 2We couldn't have gotten any better inspirer than whom we have today. Before we get in there, here is what is in store from this wonderful, wonderful human being. In a world chasing unicorns, valuations and viral fame, here is a man who chose silence over noise, simplicity over style and substance over hype. No suit, no startup jargon, no funding, no pitch decks, just Rs 500, a trial or test and the sheer belief that frugality, focus and common sense could build a 5000 crore company. He did not chase more. He built what mattered, from walking barefoot to school to walking away from a secure government job. Dr A Velumani's story is not one of overnight success. It's a masterclass in slow, steady and self-paid. If common sense were a company, he would be its founder. Welcome to Inspire Someone Today, where we dive into this extraordinary journey of the man who scaled quietly and has left a legacy that speaks volumes. It's an absolute joy to have Dr Velamoni, sir, on this episode of Inspire Someone Today. Welcome to the show, sir.
Speaker 1Thank you, Srikant. It's a pleasure to connect, pleasure to make the audience more knowledgeable, more energized, more enlightened. If this podcast can help them to see things different, I will be very happy.
Speaker 2Absolutely. And the way we would want to go about having this conversation, sir, is I would want to break down your life journey into different segments, different milestones, and get you to kind of talk about it. What were the key lessons there? Are there any key incidents that you could kind of share with the audience? So, from that standpoint, I would start with the first leg of your journey, which was growing up poor, born in a small village, born to poor parents. What have you learned in your 60s?
Speaker 1Right. This journey is very simple to explain. If we understand what is pyramid, a pyramid of economy and pyramid, you make 10 slices and I was born in the bottom, most slice and I could journey to the top most slice. So that's in in terms of understanding economically where I started and where I ended. And I keep telling proudly on stages born poor, born, village only to tell that the villages give you enormous challenges to solve, especially when you are poor. It gives you more challenges and no resources. Poor means you have to handle it. You won't have even parents around. They will be busy looking after the livelihood. No servants and even relatives don't come to somebody. You won't have even parents around. They will be busy looking after the livelihood. No servants and even relatives don't come to somebody who is poor. So to that extent, what was that I learned in the first 10 years of life was my father wasn't powerful enough to take the load my mother to call the load and I felt nothing beyond having a decent income sitting in home and working in textile mill in three, five kilometer radius. And those days in coimbatore textile mill, salaries were decent and I thought my life would settle there. I never knew anything beyond the district about the state, and I studied in Tamil medium and I'm very proud to tell I have studied in a single teacher school. So all these things give only a background that Velumani was under preparation for facing tomorrow.
Speaker 1According to nature, according to me, I thought I will wait until I get 18 years old so that I can join in a nearby textile mill for a job. In fact, when I was 14 years old, I went for an interview for a textile mill. Incidentally, they rejected me and then I continued to study. And that's the story. Had I got that textile mill job, probably that would have been end of the journey there. But what I understood is it is my duty to make my mother's life light.
Speaker 1I had five siblings. We were and I had to take care of not only me being the eldest, I need to take care of them all. So it's a pretty cool period and people would feel that I suffered a lot. But I must tell you, when poverty comes, there are two kinds of people one who enjoys, other who suffers. The one who enjoys is thinking that, yeah, god has not been kind, but we can make it better and enjoy it. But if you are suffering, I don't think any better outcome will be there in life. I believe I enjoyed and I am here. So this was the first 10 years of life in my village, apanay Kanbatti, which is a part of Coimbatore district, which is a part of Coimbatore district.
Speaker 2So if you were to kind of reflect back on that, what's one belief that has never changed since your childhood?
Speaker 1I think what I learned from my mother is the stamina is the currency for those who don't have any other currency, and that currency can get you rupees, dollars, pounds and euros also. So build on stamina. Make sure that you are not lazy. Laziness kills a lot of prosperities, families and successes. So my mother was. I've never seen my mother getting up after 6 am. I've never seen her sleeping before 10 pm. So to that extent she was my role model and, being eldest in the family, my mother used to tell you see, your siblings will copy you, so be disciplined. So I think, be disciplined and keep helping parents solve problems as much as you can and develop expertise of problem solving and have stamina. I think that's the first 10 years of beginning life.
Speaker 2I'll ask you one more question Of your 10 years of your startup life. If you could speak to the 10-year-old Velumani today, what would you say?
Lessons from Mother: Stamina as Currency
Speaker 1I won't tell anything additional Because whatever I have done have happened to become a wonderful ending. In a recent interview I was asked a question that, praveen, if you have to relive your life, what points you will change so that you have a better outcome? I told them that when the briyani has come so well, why to play with the recipe? I don't think anything else. I was patient enough, I was kind enough, I was helping my parents and if I was having full focus on education and I think that was the best period and I have done the best of the things there is no editing there wonderful.
Speaker 2So when I said 10 year old velu money, I could see a twinkle in your eye. Is there something that you remember of the 10 year old boy?
Speaker 1now I remember. Incidentally, I don't have a photograph of mine less than 20 years of age and I don't think my parents young photograph was anywhere. So in that way, all what, nowadays I use chat, gpt and try to get some simulation of how me and my parents would have been at that point of time. But having said that, I remember in one hand a slate, in another hand a plate, because those days, comrades, comrade's midday meal schemes was there and we need to carry the plate to get the meal to eat. I still believe there was no other textbook, there was no school bag. I think those days were cool days. Today's children are suffering a lot. Even in the pre-KT days there was no stress. I think there was no pass-fail till 5th standard. Everybody was passing. I think it was more of a play. I don't remember.
Speaker 1I didn't know 26 letters in ABCD when I went from 5th standard to 6th standard. I know it is 26. And if my English teacher in high school asked me to tell ABCD, I will swallow you and we will not come. And then he will ask me what is your name, velumani? Then he will ask which starts with which letter? V. Now you repeat, and then I got it.
Speaker 2Nice anecdote there. Now, moving from Coimbatore to Mumbai, was there a moment when you questioned whether it was all worth it when you were in Mumbai, at any point of your stint there?
Speaker 1See, there is a powerful communication of mine on stages when you have nothing to lose, what are you worried about? So there is. It was zero. There is no downside for zero. So for me, going to Mumbai actually was not. I didn't have an option. To be very honest, there'd been option Bengaluru to or Mumbai. I would have chosen Bengaluru. Had it been even Chennai or Seattle, I would have chosen Seattle. But then there was no option and I had to go to a land where I didn't know the language or I didn't know anyone. But, having said that, I think I had enough of stamina to feel confident. Nothing can intimidate me. I need to work and I will work. Whatever is the situation, I will work. I was very whatever is the situation, I will work. I was very clear if I work, I will enjoy my life.
Speaker 2So what was your biggest learning during that period of pursuing job in a new city, completely alien to where you had grown up? What was your biggest learning during that period?
Speaker 1Fortunately, I went with an interview letter to Mumbai. I didn't go in random to search and that interview letter got me a job. Not in the first round, they made me to make three rounds, all the three rounds. There was a suspense that whether I will get or not, and finally I got it. So there was all struggle, for job was in only Coimbatore in Mumbai.
Speaker 1It was a struggle to clear that job which, for which I got the interview letter, and even after getting the job, there were some blocks. I had to work under a blind gentleman as a subordinate. I felt I might not have a career and because I was fortunately poor, I didn't come back telling that I can't work under him because for me, again, something is better than nothing. So I got it there and then it was in fact the two decisions of mine which created a very powerful journey for me. One is coming to Mumbai and the second one is not rejecting working under a blind boss. These two things could have completely taken me back to Coimbatore, lived in that village again and I would have been one more man in that village. I think that those two things were not easy, but tough decisions. I always keep telling what is easy to do is not right to do and what is difficult to do is right to do, and I took two things which are very difficult was those two things.
Speaker 2And Mumbai also saw Velumani becoming Dr Velumani.
Speaker 1Yes, I think that was a period I call it as my age was 24 when I entered into Mumbai, entered into BRC. I worked for 34 years there, sorry, till 37 years of age. That is 14 years there. These 14 years converted a boy into a man, a BSc Chemistry graduate into a PhD Scientist, madras University graduate into Mumbai University postgraduate, and also a boy to having two children. My son and daughter were born in that period, got two promotions and got two good increments.
Speaker 1I was a very happy employee, did an extensive research in thyroid. I didn't know where thyroid was when I landed in there but then in 15 years I finished a PhD in thyroid biochemistry with a lot of technical as well as clinical knowledge of how thyroid tests can be done, interpreted, and I was extremely happy. I think I was lucky to be there. Thyroid knowledge was there not even for md doctors before 1960. The thyroid hormone testing only made people to understand the importance of thyroid as a gland. And then in 1960 I am born and that means the journey of thyroid and journey of velumine have taken parallel and I am extremely happy that I was in a right table in the government job. A dedicated officer could get the best of exposure to the test technology and diseases of thyroid.
Speaker 2So definitely the case of being at the right place at the right time.
Speaker 1Absolutely. For me, it was a matter of wanting to walk fast, and I got to walk later.
Speaker 2So what should today's youth understand about? Starting small but thinking big about?
Mumbai Journey: Working Under a Blind Boss
Speaker 1starting small but thinking big. No, actually, youth are very often carried away by the social media projections and everybody wants to be a billionaire much before Mark Zuckerberg had become, which means it's an unrealistic dream, unrealistic expectation. The earlier you start, the chances of failure is very high. So I always advise youth to have at least some 5-10 years of exposure in a space where they want to work, learn business, not using father's money or father-in-law's money. Use your employer's money and make you knowledgeable into business. What is the product? What is the market? What's competition? What is team building? What's it? What is hr? What is logistics? What is purchase branding? Oh no, there are 25 departments very vital in running a big company. But having that, if you have an idea, you have enough money. You can always experiment. Either the business succeeds or you learn a lot by doing that, but it's a very costly experiment. Keep it in mind.
Speaker 2It's a costly experiment, but you definitely need to give it a try, give it a shot and moving on. The next phase I won't say necessarily a linear way, but the next phase with you had tremendous impact was your marriage. Wife, you have spoken a lot in all of your talks about the role that your life partner played, the successful woman behind the scenes. What role did she play in your journey and what advice would you give for many aspiring entrepreneurs about navigating relationships during tough years while still wanting to build big dreams?
Speaker 1Right Now. It's not that all who want a perfect partner to support their career or business they get it's. You know, a random outcome of marriage Some keep fighting and some keep truly enjoying, relishing, trusting each other, respecting each other. My wife was working with State Bank of India and that's one primary reason I married her, because that was an income for the big family, will give some stability for the family to live without poverty around. And then, after working for 10 years, she was extremely frugal. She was earning more than me always and she saved a lot of money. She invested in some recurring deposit those days there was no SIPs, so it was recurring deposits and extremely frugal she was, though she was a working lady. I don't think she considered herself as working lady To that extent. I wasn't truly needing to do anything, though I did pitch in and I must tell she was the one who brought up my family. Though I was the married man, I was the eldest and, with my siblings and my parents in village, I think she took full care of it.
Speaker 1Those who want to understand can get into YouTube and see the podcast, which are running for 70-80 minutes. Around 15 minutes I explain about how did I get married and that itself has a lot of humor in it, a lot of meaning in it, a lot of energy in it. So once we were married, we were saving money. We didn't invest in a car, car, bungalows and all those things. A lot of comfort was there. No, emi was there. So all these things would happen only when your spouse believes in you and trusts your values. I think there are two kinds of people one who eat today, tomorrow's money, other eats yesterday's money, though both can eat.
Speaker 1It was a matter of intelligence. I think we had a comfort and I believe she was a wonderful housewife kind of working lady. To that extent a lot of comfort was there. Otherwise my msc phd would have not been possible. But having said that that after starting thyrocare, initially she was just supporting me as an assistant, as a secretary, but she had an ability to watch whatever I do. If she watches for half an hour she can do that and she did slowly learn one by one and very powerful contribution in the entire journey. I think had I not got a peaceful married life and a wife who trusts me, I would have not left a government job, because you will suffer if things don't work alright. And in our case we felt even if things don't work alright, we will manage. So that was I was motivated by my wife to do it in a large scale that's a powerful sense of comfort, powerful sense of support.
Speaker 2To have that kind of a rock solid support has become very highly of her. If you were to give a relationship advice for all the business coming out of your companionship, what would those relationship advice that you would kind of share with our listeners?
Speaker 1I think we have a unique problem, upbringing problem. Very often we start thinking that if she gives respect, I will give respect. If she loves me, I will love. I think it is not that one wait for that to happen and then you reciprocate. I think once you are married you must have mutual trust on each other and then love on each other. So I think it is not easy. Let me also tell you there are two different universities coming together.
Speaker 1When you are talking about marriage, about marriage and finding out what interests, what priorities, what are the values you give for wealth, for spending, for show-off, everything needs to be understood. So, according to me, the first five years, if the married survives, then they become a wonderful couple. All turbulence happens in first quarter, first year and then if I there is nothing known, as you know, I got a raw deal is what everybody thinks. Everybody, even boy and a girl, both think I got a raw deal. I think marriage will have to disappoint in the first quarter first year. Even mine was a disappointment only, but then subsequently it took time for understanding. So if I had to give an advice have patience and listen, understand.
Speaker 1As long as the person is not toxic, you are supposed to experiment. The person doesn't understand. You can explain. If the person has low relationship affinity, it can improve. So a lot of things are there. It's very difficult, actually today's generation is very difficult to advise. Also, you know my parents' generation. They didn't even have any option. In the generation which I lived there was an option, but then it was a tough option to move out. And then today's options are very simple. In fact I have seen often the pre-wedding shoots are much shorter than the married life, longer than the married life, to that extent that people today walk out. I would say that's the last thing to do. Try.
Starting ThyroCare: Building a Business Model
Speaker 2Patience. Patience is the key. Yes, okay, so with that started another chapter in your life, in your career, which was starting thyroid care. You started thyroid care with nothing in hand. You reach 2000 samples a day and by the end of 1999, what was your learning during that period of being an entrepreneur? This is your 30s and their 30s.
Speaker 1I I, before I touched 40. So it was like this. I wasn't ever aware of what is balance sheet in a government office. There is no balance sheet, there is no bottom line, there is no targets, there is no pressures, there is no marketing needs to be done. So it was. It was literally like a cool pond which is a swimming pool in a five-star hotel. I was suddenly I am into really a ocean. That's the business. You have so many things to learn fast create system, identify, identify people, take people, train people, find a brand name, register it, make a pitch to market and market it.
Speaker 1Those days internet was not existing, it was only a pager days. And also I didn't have liberal money, fortunately, so that I would have wasted my time too much into too many experimentations. And also a Madrasi sitting in Mumbai and trying to compete with Gujaratis and Marwadis was not anything I even dreamt of. So that's another thing. And then, being a mathematician, I am into medical business. Every MD pathologist felt who is this man? This man appears to be a technician. What is he making noise about? And then another challenge is I didn't do CBC, a blood sugar kind of routine test. It's a specialized test. So it was. No one did experiment like that. I was the only guy in the entire country who did only thyroid and nothing else. And doing only thyroid, nothing else, whether the flight will take off or not. It was another doubt even for me.
Speaker 1Having said that, that 10 years made me to feel if you can produce the same quality at a lesser cost, customers will come and stand in a line. It exactly had happened. My price was low and my quality was as good as anyone else. So that experiment of a pricing low worked a lot. And also I understood country has a billion thyroid. If I put up right collection centers and all district outcutters, all thyroid has to come to me. I must tell you, those days I think early 90s, early 90s, even late 80s there was a brand called Monjini's Cake Shop in Mumbai. I felt anybody who was buying cake was only buying from cake shop, not from a grocer. I felt that running ThyroCare with a thyroid brand is like a cake shop. If somebody wants a thyroid testing they have to come to me and they have come to me.
Speaker 1So that experiment and then branding it as ThyroCare I didn't put it as Velumany Pathology Laboratory. That also worked. A franchisee concept also worked. A franchisee concept also worked. A centralized laboratory concept also worked. But all these things from 95 to 2000,. Within five years period I could experiment a lot, many things. Some worked, some didn't work. But then by the end of year 2000, December and 99 December, I was having a wonderful business model to work on, Not alone.
Speaker 2You made a great point. Coming from the government office, where you didn't have idea of lot of these things, you literally started raw. But to do all of these things by purely by instincts, you had to trust your instincts a lot. How did that come about falling in place?
Speaker 1See, I'll tell you. There is a Hindi punchline Nikal padu rasta apna ya banta hai, which tells that if you start walking, you will know the path and you don't keep running Immediately, don't run, walk step by step, I think I. I in fact bought an ms ms ramaya company law book only after starting thyrocare to understand what is company all about, who are shareholders, what are, who are directors, what is dividend? What is profit? What is profit, what is tax? Everything I learned only after getting out of.
Speaker 1I think I will tell you all about molecule I understood before starting the business, but all about money I learned within five years of starting business. So if you ask me had I felt, oh, I don't know how to do. That is what the majority of the people do. I keep telling people just get in, you will learn a lot. Let me tell you that punchline A successful man is not the one who doesn't make mistakes, it is the one who makes mistakes but learns first and learns fast. And I keep telling entrepreneurs make mistakes, make them very fast, make all mistakes, but never repeat a single mistake. I think that's the power of a successful entrepreneur.
Speaker 2And you also mentioned about this fact. You don't need money to build a company, you need courage. How did you stay courageous when the odds were against you?
Speaker 1No, courage alone is not enough. You need to have stamina, you need to have confidence, you need to have clarity on what business model you are going to work on. Going to work on. According to me, money is needed only when you do a capex intensive business of running a paint company, cement company, paper company, plastic company. That means you have to have an infrastructure, land, machine, building, approvals, everything. I think when you do services industry mine was a services industry where not much is needed In today's money value. One crore, if you have, you can start a laboratory and in those days I had two lakh rupees which was sufficient enough to start a small laboratory, not a air conditioned, not a fascinating one. But once I got insight, I think money came from the customer.
Speaker 1I believe in medical business there are three kinds of entrepreneurs One who makes money. Other, who makes a lot of money. Third, one makes a hell of money. I was the third category in the end, eric Cairney. But having said that, there is no one giving credit to a patient, understand. Then money comes up front and there are not too many people involved in between to have cycling time.
Speaker 1I think I had a wonderful business model which is using a franchisee. I have priced the franchisee very low rate. Because I have put a very low rate. I could demand him to pay a two lakh rupees to five lakh rupees deposit and a thousand franchises across the country, two lakh rupees of deposit. Each is 20 crore rupee I had in my hand which is which was a luxury. It I must tell you again. There are two kinds of products in the market. One is push product, another is a pull product. Mine was fortunately a pull product. The minute it came to the market everybody wanted, liked it pricing, they liked the speed at which I was delivering.
Speaker 1I think in in the laboratory business, I am sure in all services industry, but specifically laboratory business, what matters is quality, cost and speed. Quality is cannot be compromised. Cost if it is lowest people will stand in a queue and if speed also is very good, they will not move out of the queue. So according to me, all these things worked favorably for me and I did scale up very fast. So, if you ask me, I always personal life. I have never borrowed A company which is a billion dollar company, never had a loan from any bank. In fact my money was always with the bank. So this is very rare to have a businessman who can claim that. You know, I have never borrowed, but I must tell you here if my mother lived in such a condition. And I want to tell one punchline if you have learned to live in no resources, living in low resources is luxury.
Scaling Up: Growth, Investment and IPO
Speaker 2That's a good one. From no resources to low resources, that's the perspective of life as well. What an infhralling conversation, isn't it, my dear listeners? What a man. What a journey From abject poverty to making his way as a successful entrepreneur. That too, with grit, shrewdness and smarts. Like he said, discipline trumps everything else. Now let's get back to listen to what else is in store from this molecule man. And, by the way, if you think this episode can help somebody, come out to your network, do not hesitate to pass it on. Back to listening. So if you were to now look at this phase of your journey as an entrepreneur and think about two or three life lessons that you had incorporated, what are those life lessons that you would want to share with us?
Speaker 1I must tell you there are people who keep grumbling we don't get manpower. That is a strange complaint. Living in India, which is 1.5 billion population, I believe entrepreneurs are lazy enough to tell that answer. And then, of course, you don't get a trained employee in every industry adequately, because every industry is growing and growing fast. So you need to take people, train people, and people who once train, they have a tendency to go out if they get a better offer. So how to take, train and retain?
Speaker 1This is something which I learned and what I understood, having struggled for a job for a pretty long period. Having worked in a private company in coimbatore for four years and worked in government for 14 years, I knew the employees, aspirations, compulsions and also what will work with them. So I used to evaluate them adequately as frequently as possible and retain them. So the lesson is an employee will not live as long as he grows, both in salary and knowledge. So that one thing I incorporated there. And then, without a franchisee middleman, nothing will work.
Speaker 1India is a vast country, 20 different languages, all states, madrasi cannot go and sell. So I invented a franchisee concept, which I believe was not then existing, and I incorporated that into the system. I incorporated IT into the system because in 1995, web servers come into picture and I was the first web server in the entire healthcare industry. So IT was used, hr was used and I also felt samples can fly in aircraft and I found out the sample. If there are 5000 samples from Chennai to Mumbai it's only 5000 rupees costs for one rupee one sample.
Speaker 1This is something which I incorporated into business very, very early. So IT HR logistics was very, very important and I think brand sells better than non-brand. And I put Velumani pathology laboratory. No one, even in Mumbai, will give specimen to me in my own city also, but then I put it as ThyroCare so that it went across the country as a brand. In fact many Indians feel it is an international brand and in fact my total valuation, half of the value, is for the brand. So I was brand sensitive, brand conscious, and I think all these things was not known to me while I was sitting as a scientist in DRC. All we dreamt in chair of a scientist was how to go for international conferences and how to work for awards. Not that business was understood.
Speaker 2While Thairo Kheer was a thriving business, you were at the peak of the business. Then your 40s and 50s was also very intense, with the PE guys coming into the foray, then Tyroc here getting IP vote, then the unfortunate event of you losing your wife. Walk us through that period. How was it? What happened during that period with the PE guys?
Speaker 1So this was a very golden period of the business. I tested using some models, some innovations, certain systems in place and that time I was making my own reagents. And making my own reagents was intimidating because once the scale comes, automation needed. And automation is there. This technology will not work. But then, fortunate for me, the multinational companies which were selling reagent sensed they should not fight with velumany, they should partner with velumany. And they came to me and they gave me automations. And automations came free of cost because I had volume. It's like a xerox machine comes free of cost when you have enough xeroxing workload in your office. That gave rise to automation. Brand became powerful because the laboratory I had to begin with 10 automated machines standing, like you know, a textile mill spinning machines. Then I was the first guy in the industry to have 50 machines on the single floor and that gave you know.
Speaker 1The T2 airport. Look of Mumbai was given to customers and my people felt I'm a hero and I had a single lab and too much of volume. So automation was justified. What is spent in T2 in Mumbai cannot be spent in Coimbatore airport because there is no enough flights there. So the scale he had, that's what I could manage to see and it was growing. I must tell you, the business initially was struggling to grow for the first three, four, five years, but then, I think from 2000 to 2010, it was growing 40% year over year. That room any investor will become crazy to acquire some company. So the branding was happening, advertisements were going, the workload was growing. You have to have big teams, so take big numbers, train them and that time investors also come in.
Speaker 1To begin with, I had 200 square feet rented garage. Then I went for a 4000 acquired premises. Then I went to a 10 000 acquired premises. Then I felt every day, you can't change. Let me go to a 50 000 square feet acquired premises and within three years I had to go for another 1.5 lakh acquired premises. So 2 lakh square feet.
Speaker 1In Navi Mumbai, a wonderful building, a building which was made for IT industry and in 2009, bust of what you call as tech bust or IT bust I got that building coming to me and I purchased that. So all these things were happening and company is now converted from private limited to public limited and that is the time investors had come in. Investors didn't expect that I will claim a very big value, but then, since they have come to me, I dictated my terms. So I think I diluted the first 25% at a 600 crore value and another 10% at 1200 crore value and it was about to go to IPO. And that is the time we had filled in all papers needed for IPO my wife as a co-founder and all others as directors and finally, just 50 days before the IPO, I lost her for pancreatic cancer. That was one of the biggest stress very short lived because she didn't live too long after knowing that she has that problem. And then it completely devastated the direction in which I was running and the speed it was running. But, having said that, ipo was committed and we had to go through and we went through and it got subscribed 75 times oversubscribed and that got listed on the first day with 36% upside for the retail customers who have invested in ThaidoCare. I was extremely happy, except that on the day of listing I felt very bad that my wife wasn't around.
Speaker 1But that 10 years 2000 to 2016, 15 years were the true challenging years because everything happening without much of freedom for us to choose.
Speaker 1I think if I wanted that much growth and if it happened, probably I could have managed, but I only wanted 20 25 growth, but suddenly it happened 40 growth.
Speaker 1But then, having said that, I could manage to put up a fair, standardized system in place and it worked. So by 2016 it's a listed company and velumani has is seen in the investor world, seen by investors and seen by leaders of in the industry and leaders of other industries. Here is a man who got his IP, was subscribed 75 times a diagnostic company, so all these things and I was seen as man from Coimbatore and I became a personality afterwards. Until that time, I never got onto the stage to speak and when I got onto the stage, I got a lot of appreciation for my communication and I now is in limelight. And I want to give one advice to you entrepreneurs don't try to come to limelight before you see success, because once you come to limelight, you cannot work that easily, that focused, and you may not succeed. So first succeed and then come to the limelight first succeed and come to the limelight.
Speaker 2First succeed and come to the limelight. And what a fantastic journey that has, with 40% growth during that period, is unimaginable.
Speaker 1And it happened in concept of single lab for a billion population.
Speaker 2Fantastic and you successfully exited from Thiruketh. So the boy who went with 400 rupees came back with further 5000 crores. He's the tagline, he's the headline, but some of the things hasn't changed. For Velu Mani, you mentioned about being frugal, you mentioned about managing the resources, from low resources to low resources, but one thing that definitely stands out you didn't change your lifestyle, even after having thousands of goals. What's your philosophy on money, contentment and happiness?
Life Philosophy: Frugality and Happiness
Speaker 1Yeah, there are many reasons for what I am, why I remain the same. What changes? No changes could come to me. All this because, number one, I'm a very frugal man and I believe in frugality, simple life, simply because frugality my mother had, because of which I survived. Frugality my wife had, because of which she could give me some funding for my business, and frugality made the company not to borrow and create a wonderful business. And frugality made the company not to borrow and create a wonderful business. Frugality improved the profitability because you work on most optimized economy. And then I lose my wife and after losing her I felt if I now spend it, I'm not comfortable. Number one is we wanted to enjoy together. And then I have a reason to believe. I think I have a punchline. Consumers cannot create, so creators should not consume, and I cautiously remained away from that.
Speaker 1And I also tell people that you know money and honey sound similar. Honey is collected and honey sound similar. Honey is collected by honeybee. Money is collected by moneybee and if honeybee falls in honey, it dies. So is moneybee if it falls in money. I kept it for the next generation. Or let them donate, let them give to anyone. I am happy to be what I am, but having said that, I nowadays. Earlier I used to spend around $80 for a room to stay. Nowadays I am spending around $200 to stay, but I haven't still been traveling in business class because that doesn't give me any added added advantage or happiness. I am happy to be what I am. There are many people keep on asking the same question, but I believe I am enjoying so I don't have to change my life.
Speaker 2So what is the definition of happiness for a man who is worth beyond 5000 crores?
Speaker 1Oh, happiness is something which I have enormous avenues to get from. I believe nature is very powerful. I love going to Nepal, that is, the Himalayan range, to Kurg Ooty, which is western gods Nilgiris. I love meadows, I love valleys, I love pregnant clouds, I love beaches, I love waves. I nowadays get requests from many people to come and talk to their people, their employees, their entrepreneurial associations, their cultural associations. Everywhere I go, I am enjoying and in fact, the reason for me to exit was if you motivate employees, your company will prosper, but if you motivate employers, the country will prosper.
Speaker 1I have decided to mass mentor. There are some people who come to me one to one mentoring. I don't do that and I can't do that. It's very simple for one man to understand another man and then help him to succeed. But mass mentoring means what common problems people face. I tell my story from where I started, how I have journeyed, how I have exited, which is for anybody. There are enough content there to learn from. So I'm a mass mentor and, calling myself as mass mentor, I am feeling the superstar designation I have got. And then I also have entered into Instagram just 15 months back and I have a 2.5 million followers, so I have a lukewarm celebrity comfort. So which means I enjoy at this point of time. I believe happiness is relationships and I do have good number of friends and my family. I have built a big family and with my family members I spend a lot of time For me. Driving that 2 crore car or driving or sitting in a first class in a flight doesn't really make me happy In all.
Speaker 2Through this, one thing that I noticed very many times that has been very consistent, is your power of conviction In, be it the decisions that you have made for yourself, the decisions that you have made as a founder, or even the decisions that you are living by even today. Where is this strength? Where is this power of conviction coming from?
Speaker 1I think the man who takes decisions really grows. I keep telling a punchline there are only two kinds of people, one who is successful, other did not take the decision. And I also tell there are two kinds of people, one who is successful, other did not risk. So I have an ability to take risk. Again, I tell you, because I was born poor, because I had nothing in my earlier life, there was no fear of losing. There is no downside for zero. So I used to take decisions. I must tell you the five decisions which I have taken.
Speaker 1And then one other thing is while taking decision I don't discuss with anyone. I don't know how this capability I have got maybe because in village, at an age of 10, I was designated by my mother as head of the family for make me to realize that I am supposed to be more responsible. But then I took myself as seriously as a leader. So I never discuss with people and my mother was very happy at our decision I was taking and I leaving Coimbatore was a biggest decision which I didn't discuss with people and my mother was very happy at our decision I was taking and I leaving Coimbatore was the biggest decision which I didn't discuss with my parents. I only took the ticket and showed to them Me. Marrying a Bombay girl was another big decision which did not have full approval from parents.
Speaker 1Me leaving government job, with discussing with my wife, was another very big, bold decision. Government job, with discussing with my wife, was another very big, bold decision. A decision to get private equity guys inside and go for an ip was also was another big, bold decision. And then finally exiting the company was another decision. I think these five decisions added not less than five zeros in my net worth. So that means decision making is very important and I'm not intimidated by failures. I never felt one failure will take me home back. I am born fighter, thrill monger, and then I have had my own share of thrill and fun and enjoyed.
Speaker 2In a way, is that the secret source of success is to kind of make decisions, take risks, don't be afraid of failures.
Speaker 1Learn first and believe that we are not less than anyone.
Speaker 2We are not less than anyone. Fantastic Velumay sir, if you were 25 again today, what would you chase?
Speaker 1I think again, as I have been telling nothing, I would chase because at 25, I wouldn't have this much of wisdom. And age is there. Wisdom is not there, age is there, money is not there for investment. So everything comes at that age. I have no regrets. In my entire journey, I will help my mother until I am in my village. That was what I did until 20.
Decision-Making and Final Wisdom
Speaker 1Then, same Jayanti, jantai Express I will pick up when reach to Mumbai, and same blind boys under whom I will work. Same wife I will marry and I have two wonderful children. Both of them are equally frugal and powerful. So that also I was I am blessed with. And then we'll start any care, depending upon which laboratory I was posted. Had it been liver, I would have been a liver care or whatever it is. I believe in a single specialty makes it a very powerful journey, and the name ThyroCare also will continue the journey of franchisees, appointment, scaling up everything. I will also go for a private equity. I will also exit. I don't think any single step I will change. But having said that, if at all, one thing I have I will add. I will ensure that the I think I started a statement thinking that one thing I will change. I am unable to even find out. Same village, same journey. Nothing I will change.
Speaker 2That's a great example of a life well lived. Very curious to know what are your kids telling you today.
Speaker 1Kids are telling I am not an intelligent man. Kids tell dad, your BRC colleagues have retired with 5 crore net worth. Okay, you wanted to have a thrill when you reached 50 crore net worth. You should have left the business and enjoyed life and you were fool enough to continue. And at least on 500 crore net worth you should have exited. Thank God, at least on 5000 crore net worth they are celebrating. I can't believe that you could exit it. And they all admire me, you know they see me as tall as Amitabh Bachchan and as tall as Gavaskar all those things. You know the powerful people will have children who appreciate their parents. So they all have a lot of appreciation. But they are telling now at least change, don't be what you were all these years. But then the fight between me and my children is they want me to change and I am unable to change.
Speaker 2And that change is rooted on principles that you don't want to give.
Speaker 1Exactly change and that change is rooted on principles that you don't want to give exactly. I think it is all you know. The first 25 years, all values of life have been ingrained in the brain. Today, if I have to spend, I immediately start thinking if I have to spend 30 000 rupees it is somebody's one month salary is. Should I do that? So a lot of things come.
Speaker 1I think the absolute value of money I have not lost and I want the audience to understand why Velu Mani is always looking at value of money is because his name is Velu Mani.
Speaker 2Velu Mani. Sir, this has been one wonderful conversation. In the short period of time we had the opportunity to go through your life stages in different shape and form. Before we wrap up, I have two questions for you. One is what gives you hope for the future, and second is what advice do you have for all the listeners? This channel is all about creating ripples of inspiration. What would be that one advice that you'd want to leave as we sign off?
Speaker 1See, we need to think positive, even though all negative things are happening around. India will be having the ultimate laugh when this century ends, because right from 2050 to 2100, india will be the leading economy, also young population, biggest democracy. I think this is a blessing no other country any time in the history had First. We have become the largest populated country. Today we are going to be three or four in the list of powerful countries. I have a reason to believe this country will rule. So future is bright for the country.
Speaker 1Now, for the individuals, what advice is needed? I think the knowledge rules. It is not the English which you speak, it is not the qualification you hold, it is not the number of years you sat in a chair. It is the knowledge which you have will take you to heights. The man who has knowledge will be the leader. Anyone who gets a leadership without knowledge will perish. So first is knowledge have patience.
Speaker 1Success should not come too early. If success comes too early, too difficult to sustain it. Be it life, career or job, it's a marathon race, it's not a 100 meter dash. So have patience, knowledge, patience. The next one is focus Know everything, do one thing, learn everything, Do one thing. And when you start doing, you cannot do everything and you will suffer. So focus, and then frugality plays a huge role.
Speaker 1Today's generation is 95% of the adults have EMI loaded. I am of that opinion. If you can live frugal, you will have less stress. Today, the depression levels at the youth is very high only because their inability to manage finance well. Last but not the least is discipline. Everybody gets success. Sometimes success is coming too early and discipline goes out too early, and if you are not disciplined, your success will not remain with you.
Speaker 1So knowledge, patience, focus, frugality and discipline is five words applicable to startups, applicable to students, applicable to even employers, and very often employees have a feeling if you want to make money, you should become only an employer. Let me tell 95% of the employers make less turnover. Then the salaries 10% of the employees make less turnover than the salaries 10% of the employees are making. So if not necessary, you should do that. I think. Put Sundar Pichai and Indira Nooyi's salary. You will understand how many are struggling for 10 crore turnover after starting the business. So have intelligence, have expertise. It doesn't matter you work for you or you work for someone else. Knowledge will be compensated. We'll stop.
Speaker 2Knowledge will be compensated. We could have asked more than this. Thank you so much for taking time and sharing your life journey with me and my listeners. Thank you for joining us on this episode of Inspire Someone today. This is Srikant, your host, signing off. Until next time, continue to carry the ripples of inspiration, stay inspired, keep spreading the light.
