Managing Director, Partner & Founder for Multiple Startups
I am Ragesh from Hulbut Academy, I am 38 years old and I am a Mechanical Engineer. I have 18 Years of Experience in the Industry and Business Sectors,
I along with 2 of my Entrepreneur Friends Have started this Firm Called Hulbut Academy "Hub for Learning Business related tasks and Techniques" to help aspiring entrepreneurs
I am from a middle-class family, I don't have anyone in my family who is doing business, after I completed my Education I started searching for my job., from 2003 to 2013 10 years I did my job in various companies for almost 6 to 7 companies,
I used to jump from one job to another because I could get a good salary hike, so in 2003 when I started ..my salary was 3000, and I came out of my job in 2013 when my salary was 1,50,000.
The reason I came out of my job was I wanted to do some business nothing else. See till 2013 while doing the job I had learned several skills and I thought I can use those skills for my betterment, for my own benefit. I didn't know anything about how to start a business. but I had a passion, I had the courage and I wanted freedom.
So me and one of my friend who wished to join me in business made a plan and quickly started the process of starting a business, so we visited a charted accountant for some information to start the business, he spoke about the docs required for opening a firm and some other technical stuffs, then again we went to a company secretary firm and he explained a lot about compliances and formalities, etc we ended up paying them almost 20k.
so with that knowledge we got from them, we started a partnership firm, so the first year we got orders for 25lacs, the second year it went to 65 lacs,, by this time we thought keeping a partnership firm is not so great, so we decided to go for a private limited company in which we both become directors, but maybe because of our bad luck the market behavior in that year was very bad and we got hardly 35 lacs order but we have invested for a bigger set up by that time and ultimately we ended up with nothing and we fell into financial trouble.. nothing was moving forward, no more orders were getting every day it was getting tighter and finally, we decided to End the Business.
Later I came up with a different idea and started my own OPC- one person company with only me as a director. as my partner was not any more interested to do business and he got a good employment offer and joined the Job
By this time I dint have a single penny in my pocket my family members insisted I go back to my job, I even got the job offer for 2 lacs, but I believed in my strength and I focused on my mission, somehow I arranged some fund and started procedures for incorporating my OPC. In my case, it was a kind of manufacturing firm so I needed some kind of place for assembling the parts, but this time I didn't go to any ca or cs firm, but with help of an online portal, I did all the process myself to start a one-person company.
The next step was getting orders, I made a product which was hardly available in the market, ppl didn't know about it much, but there was 1 or 2 huge player in that segment and competing with them was really tough, at first I got inquiry through online ads and I convinced that customer, I portrayed in such a way that he didn't understand that it was my first order or my company is a new company,
I had shown him all my previous experience and he got confidence in me and placed an order with a 50% advance. without any investment, I got my first order, and from 2015 to till now, almost 5 years my company is showing exponential growth, even in corona time I got an order through my social media ad campaigns.
and later I thought of expanding my business, my turnover was getting increased, I wanted more financial support. I came all alone till this point, so I decided to sell my shares or bring in a VC to procure new machinery and adopt new technologies so I can make more turnover and stay strong in the market,
So Now I along with my Business Partners Experienced a lot of Struggles and Challenges we faced in the entrepreneur journey have started Hulbut Academy to share the whole of that what we learned in our Entrepreneurship journey with the upcoming generations.