The transition from an individual contributor to a managerial role is a significant leap, often marked by a shift in mindset and skill set. While many executives excel in individual performance, the managerial role demands a broader perspective, strong interpersonal skills, and a strategic approach.
team meeting picture
Understanding the Shift
The fundamental difference between an executive and a manager lies in their primary responsibilities. An executive is typically focused on individual performance and achieving personal goals. A manager, on the other hand, is responsible for leading a team, setting objectives, and ensuring the team’s collective success.
training program
Key Challenges in the Transition
Shifting from Individual to Team Performance: The primary focus shifts from personal achievements to the collective success of the team.
Effective Communication: Clearly communicating expectations, providing constructive feedback, and actively listening to team members are crucial.
Team building
Building Strong Relationships: Developing trust, empathy, and rapport with team members is essential for fostering a positive work environment.
Delegation and Empowerment: Effectively delegating tasks and empowering team members to take ownership is key to maximizing productivity.
Managing Expectations: Balancing the demands of the organization, the team, and individual team members.
Strategies for a Successful Transition
Define Clear Expectations:
Role Clarity: Clearly articulate the roles and responsibilities of each team member.
Goal Setting: Set specific, measurable, achievable, relevant, and time-bound (SMART) goals.
Regular Check-ins: Conduct regular one-on-one meetings to monitor progress and address concerns.
Role clarity
Effective Communication:
Active Listening: Pay attention to what team members are saying, both verbally and non-verbally.
Clear and Concise Communication: Avoid ambiguity and use clear, concise language.
Constructive Feedback: Provide timely and specific feedback, both positive and negative.
Build Strong Relationships:
Empathy: Understand and respond to the emotions of your team members.
Trust: Build trust through honesty, reliability, and consistency.
Recognition and Appreciation: Acknowledge and reward team members’ contributions.
Effective Delegation:
Empowerment: Give team members the authority to make decisions and take ownership of their work.
Clear Expectations: Clearly communicate the desired outcomes and deadlines.
Support and Guidance: Provide the necessary resources and support to help team members succeed.
Continuous Learning and Development
Self-Reflection: Regularly assess your own leadership skills and identify areas for improvement.
Professional Development: Attend workshops, seminars, and conferences to stay up to date with industry trends.
Mentorship: Seek guidance from experienced leaders and mentors.
By embracing these strategies and continuously learning and adapting, executives can successfully transition into effective managers, leading their teams to achieve exceptional results.
Many entrepreneurs start their journeys with the dream of building a team to support their vision. Ironically, they often end up spending a significant amount of time managing day-to-day employee issues and chasing new hires. This constant state of “tenterhooks” creates a power imbalance where employees hold the leverage, emphasizing their own importance rather than recognizing the value the organization offers them.
This situation arises because entrepreneurs get bogged down in the weeds of HR tasks and firefighting instead of focusing on becoming effective leaders.
The Solution: Owning Your Management Skills
The first step to breaking free from this cycle is for the entrepreneur to acknowledge the need to improve their people management skills. Hiring the right people is crucial, but effective leadership is what empowers those people to contribute to the company’s success.
Profit: The Ultimate Measure
Entrepreneurs often get caught up in chasing buzzwords like innovation, brand creation, and technology. However, the true measure of an entrepreneur’s worth lies in their ability to generate profit. Profit is the tangible outcome of all the other efforts, the ultimate validation of a successful business.
Moving Beyond KRAs: Linking Employees to Profit
Focusing on KRAs (Key Result Areas), a popular management tool, can become an MBA jargon trap. Instead, entrepreneurs should establish 3–4 clear ways in which employees directly contribute to the company’s profit. This creates a sense of ownership and aligns individual goals with the overall objective of the organization.
The Call to Action
If you’re an entrepreneur struggling with employee management and want to learn more about linking employee productivity to company profit, reach out to the author at kunwersachdev@gmail.com
Solar Man Of India: One of the finest innovators, marketers, motivational speakers, and visionary businessmen of our time is Kunwer Sachdev, founder of Su-Kam Power Systems, India’s premier provider of power solutions. Kunwer Sachdev, like Thomas Edison, has cemented his place in history by founding one of the most admired Indian businesses and revolutionizing the power backup sector.
Under the guidance of Kunwer Sachdev, Khushboo Sachdev launched a new business called Su-vastika
She created this new company with financial assistance from Kunwer’s friends and family.
Her own struggles compelled her to do so, and there was no turning back after that.
Success Story: The introduction of electricity transformed our way of life for decades, but the growing number of shortages and their lengthening frequency have made another invention necessary. Behind the scenes, a game changer with a non-technical background was putting in his hard work and commitment as this awful state of electricity deficit persisted for years. Kunwer Sachdev is widely known as Solar Man of India for his contributions and became the face of the power backup sector in India and the brains behind Su-Kam, one of the most progressive and rapidly expanding businesses in the country.
Kunwer Sachdev: Rags To Riches
A real “rags to riches” story, Kunwer Sachdev was raised by a railway clerk in Delhi’s Punjabi Bagh neighborhood while dreaming of starting his own company one day. Following his graduation from college in 1984, he started working full-time in his brother’s pen business. He attended a public school where the curriculum was taught in Hindi. He quickly recognized the potential in the field of power backup because he was a visionary from an early age. Due to the challenges of a severe power deficit, he made the decision to shut down his cable TV business and start Su-Kam in 1998. He has since launched numerous additional enterprises, but he has maintained the same Su-Kam throughout his entrepreneurial career for all of his ventures. But where did the name Su-Kam originate? The initials of his daughter’s name, his name, and the names of his future children were once combined in Kunwer’s mind to form the name of his company.
Solar Man of India: The Innovator and Visionary
Su-Kam- The Unmatched Product
He had a difficult time raising money for his business, so it surprised him when clients returned his first 100 inverters due to issues. Never one to give up, he improved his invention and fixed all the flaws to make it better than anything else on the market. Before making cold calls to prospective new clients, he first spoke with a number of his cable TV clients. Realizing that selling to people directly would not help him grow his business, he started approaching dealers and wholesalers. The majority of producers quickly realized that Su-Kam was unmatched in terms of product quality and price, even though the market was already crowded at the time.
Su-Kam: Monopoly
They were therefore compelled to accept Kunwer’s proposals in order to become his company’s initial partner. Soon after, Su-Kam became the first company in the industry to start exporting its products to the aforementioned markets. Kunwer started expanding his business during this time by visiting other nations. Kunwer surmounted new barriers brought on by governmental restrictions, corporate traditions, legal frameworks, and rivalries to establish Su-Kam as a household name in many of these countries. For his achievements, Kunwer Sachdev was given various awards, including the “Bharat Shiromani” and the Ernst and Young “Entrepreneur of the Year” titles.
Solar Man of India: The Innovator and Visionary
Su-Kam Bankruptcy
Su-Kam Power Systems Limited filed for bankruptcy as a result of a string of tragic events, and Kunwer Sachdev was forced to quit the company he had considered his own for 32 years of his career and distance himself from it after getting involved in various legal disputes. The man who altered the landscape of India’s power backup industry was forced to fight his toughest battle. The business was closed for two years (April 2019-April 2022). There was no help available. Nobody was answering the phone calls or responding to emails. Dealers and customers both suffered greatly during this time.
Khushboo Sachdev: A Blessing In Disguise
Customers, distributors, suppliers, and other company associates were left with a void following Kunwer Sachdev’s departure from the business that he started and oversaw from its beginning until 2018. Customers and dealers both suffered because they had unsold goods and services on their hands, and there was no way to resolve any warranty claims from customers. After great effort and difficulty, Kunwer Sachdev’s wife, Khushboo Sachdev, stepped up to assist him in these circumstances.
Su-Vastika And The Power Woman
Under the guidance of Kunwer Sachdev, Khushboo Sachdev launched a new business called Su-vastika with a lot of assistance and support from friends and family. She created this new company with financial assistance from Kunwer’s friends and family despite having no prior experience in business management. Her own struggles compelled her to do so, and there was no turning back after that. She met people, made plans, and was aware of every step. Although she was inexperienced, she started Su-vastika with a team thanks to her tenacity and enthusiasm. She made do with her children and elevated Su-vastika.
The brand experience, according to Kunwer, begins inward and moves outward from there. It is for this reason that, on the one hand, he provided fresh challenges for his employees to advance their abilities. On the other hand, he observed all the holidays with fervor and took several steps to strengthen the bonds among his team members. The establishment of one of the most admired Indian firms, which revolutionized the power backup market, has earned Kunwer Sachdev his place in history, just like Thomas Edison did. And he is not done yet.
Biography of Kunwer Sachdev: Founder and CEO of Su-Kam Power Systems -Industrialist & Businessman
The Inverter Man of India
Kunwer Sachdev: The Visionary Behind Su-Kam Power Systems
Biography of Kunwer Sachdev:
Early Life and Inspiration
Kunwer Sachdev, acclaimed as the ‘Inverter Man of India,’ was born to Krishan Lal Sachdeva, a section officer in the Indian Railways. His upbringing instilled in him the values of diligence and determination, which became foundational in his entrepreneurial journey.
Early Life
Kunwer, born on November 16, 1962, into a middle-class family, spent his childhood in Delhi. His father worked as a section officer in the Indian Railways, and his elder brother ventured into selling writing instruments. Growing up, Kunwer helped his brother in this business, showing an early inclination towards entrepreneurship rather than focusing solely on his studies.
Early Education and Career Choice
Kunwer Sachdev’s educational journey began at a government school in Delhi’s Punjabi Bagh, where his early aspirations leaned towards becoming a doctor. However, fate led him towards entrepreneurship, marking the beginning of a remarkable career in business.
After completing intermediate education, Sachdev pursued his higher studies at Hindu College, Delhi University, graduating with a degree in Statistics. He further honed his academic credentials by obtaining a Bachelor of Laws degree from the University of Delhi, laying a robust foundation for his entrepreneurial ventures.
Founding Su-Kam Power Systems
In 1998, Kunwer Sachdev founded Su-Kam Power Systems, a pioneering Indian power company that quickly gained prominence under his leadership. Su-Kam became synonymous with innovation and reliability in the power backup solutions industry.
Entrepreneurial Beginnings
From a young age, Kunwer showed resilience in overcoming financial challenges. He began by selling pens on a bicycle alongside his brother. This experience fueled his ambition to become an entrepreneur. In 1988, he founded Su-Kam Power Systems with an initial investment of just 10,000 rupees. Under his leadership, Su-Kam rapidly grew to become a prominent player in the power backup industry in India. Kunwer expanded the company’s footprint across Africa and Asia, offering a range of products including solar off-grid power systems, inverters, UPS systems, batteries, and more.
Entrepreneurial Vision and Achievements
Recognized as one of ‘India’s Most Respected Entrepreneurs’ by Hurun, Kunwer Sachdev’s entrepreneurial vision extended beyond Su-Kam. He mentored Su-Vastika, a power backup provider launched by his wife, Khushbhoo Sachdev, in 2019, contributing to the empowerment of women in business.
Kunwer Sachdev: Pioneering Power Solutions and Green Energy
Kunwer Sachdev stands as the founder and Managing Director of Su-Kam Power Systems Ltd., a prominent India-based provider of power solutions operating in over 70 countries. Under his leadership, Su-Kam has revolutionized the industry by offering reliable power backup solutions for both domestic and industrial sectors.
Biography of Kunwer Sachdev: Founder and CEO of Su-Kam Power Systems/ Inverter Man of India/Entrepreneur/Businessman/Su-Vastika/Indian power backup provider
Innovative Solutions and Global Reach
Su-Kam, led by Kunwer Sachdev, has illuminated millions of homes during power outages with intelligent, energy-efficient, and eco-friendly power backup solutions. The company has also ventured into solar solutions, reflecting Kunwer’s visionary approach towards integrating green energy technologies into mainstream use.
Pushing Technological Frontiers
Under Kunwer Sachdev’s leadership, Su-vastika has been at the forefront of developing cutting-edge lithium-ion battery technologies. The company has secured 15 technology patents and filed for over 60 patents, underscoring its commitment to advancing power backup solutions into the future.
Entrepreneurial Spirit and Vision
Renowned as a great innovator and marketer, Kunwer Sachdev’s leadership extends beyond business success. He serves as a motivational speaker, inspiring others with his entrepreneurial journey and commitment to technological advancement. His continuous pursuit of better technology underscores his unwavering dedication to improving the lives of people through innovative solutions.
Commitment to Green Energy
Kunwer Sachdev is particularly passionate about democratizing access to green energy across India. Anticipating the rise of solar energy systems in the country, he spearheaded Su-Kam’s entry into solar panels and continues to advocate for
Literary and Media Recognition
Kunwer Sachdev’s entrepreneurial acumen and journey have been chronicled in literature. He is prominently featured in Rashmi Bansal’s book “Connect the Dots” and Harsh Pamnani’s “Booming Brands,” reflecting his influence and impact in the business world.
Kunwer’s entrepreneurial journey and achievements have been showcased on prominent platforms. He was interviewed by renowned journalist Richa Anirudh on IBN Khabar’s show Zindagi Live. This interview provided insights into Kunwer’s journey from humble beginnings to achieving substantial financial success.
Television Appearances and Insights
Sachdev’s insights and success story have reached wider audiences through television appearances. Notably, he was interviewed by Richa Anirudh on IBN Khabar’s “Zindagi Live” and featured on ET Now’s “Tee Time,” where he shared his perspectives on success and entrepreneurship.
Recognitions and Awards
In recognition of his entrepreneurial prowess, Kunwer Sachdev was honored with the ‘Entrepreneur of the Year 2011’ award at the prestigious Entrepreneur India Awards, underscoring his significant contributions to the business landscape in India.
Recognitions and Accolades
Kunwer Sachdev’s significant contributions to solar technologies in India have earned him the title of the ‘Solar Man of India’ by India Today. He has also been honored as one of ‘India’s Most Respected Entrepreneurs’ by Hurun, acknowledging his impactful leadership and innovation in the industry.
Contributions to Governance and Development
Kunwer Sachdev’s influence extends to governance as a member of the Gurugram Metropolitan Development Authority, contributing to the development and infrastructure initiatives in Haryana, India.
Kunwer Sachdev’s journey from founding Su-Kam Power Systems to mentoring new ventures exemplifies his commitment to innovation, entrepreneurship, and community development, solidifying his legacy as a transformative figure in India’s power sector. Kunwer Sachdev’s journey from childhood aspirations to entrepreneurial success is a testament to his resilience, vision, and commitment to excellence, inspiring generations of aspiring entrepreneurs in India and beyond.
November 16, 1962: Kunwer Sachdev is born in Delhi, India.
1988: Kunwer Sachdev founds Su-Kam Power Systems with an initial investment of 10,000 rupees.
1998: Su-Kam Power Systems gains prominence under Kunwer Sachdev’s leadership, becoming a leading player in India’s power backup industry.
2011: Kunwer Sachdev is honored with the ‘Entrepreneur of the Year’ award at the Entrepreneur India Awards.
2019: Kunwer Sachdev mentors Su-Vastika, a power backup provider launched by his wife, Khushbhoo Sachdev, contributing to women empowerment in business.
2020s: Su-Kam Power Systems continues to expand its global footprint, offering a range of innovative power backup and solar solutions across 70 countries.
Present: Kunwer Sachdev remains a pivotal figure in India’s power sector, advocating for green energy solutions and technological advancements in power backup systems.
This timeline captures Kunwer Sachdev’s entrepreneurial journey from humble beginnings to establishing Su-Kam Power Systems as a pioneering force in the power solutions industry, reflecting his commitment to innovation, sustainability, and community development.
Biography of Kunwer Sachdev: Founder and CEO of Su-Kam Power Systems/ Man of India/Entrepreneur/Businessman/Su-Vastika/Indian power backup provider
Meet ‘inverter man of India’, whose one mistake led to downfall of 26-year-old company, he is…
The Story of ‘Inverter Man of India’: Resilience and Rebuilding
His journey from creating a revolutionary product to losing his company and rebuilding his career shows resilience
The article you linked discusses Kunwer Sachdev, the “Inverter Man of India,” and the rise and fall of his company, Su-Kam. Here’s a breakdown of the key points:
Rise of Su-Kam:
Kunwer Sachdev founded Su-Kam in 1998, the first inverter company in India.
Su-Kam’s inverters addressed the frequent power cuts in India, becoming essential for households and businesses.
The company expanded not only within India but also to other countries.
The article mentions a “mistake” by Sachdev that led to the downfall but doesn’t specify the exact nature of the mistake.
Legal issues arose due to a loan default, leading to the company’s closure.
Current Situation:
While Su-Kam is no longer under Sachdev’s control, he has moved on to a new venture called Su-vastika
Kunwer Sachdev, known as the ‘Inverter Man of India,’ significantly impacted the country with his company, Su-Kam. Founded 26 years ago, Su-Kam was the first to manufacture power backup inverters, solving India’s power crisis during the 1990s. Sachdev’s innovative inverters became household essentials, not just in India but also in countries like Nepal, Bangladesh, and parts of Africa.
However, Su-Kam faced a downfall when it was declared bankrupt after defaulting on a Rs 240 crore loan. Although the company had assets to repay the loan, legal troubles arose, leading to its closure. Distributors and customers were left without service, and Sachdev’s reputation was severely affected.
Despite these challenges, Sachdev did not give up. His wife, Khushboo, encouraged him to start a new venture. Together, they launched Su-vastika, providing services to customers and applying for patents on innovative products.
The Story of ‘Inverter Man of India’: Resilience and Rebuilding
15 out of the 60 patents applied for have been granted so far. Sachdev continues to serve as a mentor, bringing his years of experience to the new company.
Sachdev’s journey from creating a revolutionary product to losing his company and rebuilding his career shows resilience. Su-vastika now offers various services to dealers and customers, keeping Sachdev’s legacy alive in the power backup industry.
Su-kam’s remarkable success can be attributed in large part to its unwavering commitment to product training. While many competitors focused on offering discounts and securing orders, Su-kam recognized the power of educating its dealer network about the intricacies of its products.
Beyond the Product: Su-kam’s Distribution Strategy
Through comprehensive training sessions, Su-kam empowered its dealers to become true product experts. This knowledge not only helped dealers sell more effectively but also instilled a sense of confidence and pride in the Su-kam brand. As dealers became more proficient in explaining the benefits and features of Su-kam products, they were able to position the brand as a leader in the market. Su-kam distribution strategy paper
By investing in product training, Su-kam strengthened its brand and cultivated a loyal customer base. Satisfied customers who understood the value of Su-kam products were more likely to recommend the brand to others, creating a positive word-of-mouth effect.
In conclusion, Su-kam’s unwavering dedication to product training was pivotal in its brand creation and subsequent success. By empowering its dealers with knowledge and expertise, Su-kam established itself as a trusted and respected name in the industry.
Beyond the Product: Su-kam’s Distribution Strategy
Distribution creation in Su-kam by Kunwer Sachdev, founder Su-kam in India “Training of Dealer and Distributors through Dealer Meets
Beyond the Product: Su-kam’s Distribution Strategy
dealer visit in Kolkotta
the old image of 2004 when I started dealer meets
Haryana meet in early 2005
Maharashtra meet
Kashmir meet
Punjab dealer meet
Started the training of Dealers and Distributors
“As the founder of Su-kam, I spearheaded dealer and distributor training initiatives by travelling extensively across India. I conducted at least 100 dealer meets annually, accompanied by a dedicated team. To ensure a professional and impactful experience, I insisted on strict discipline, meticulously planned stage setups, product displays, and live demonstrations of our latest innovations. I was committed to personally training dealers and distributors, sharing my knowledge and expertise firsthand.”
su-kam dealer meet in UP
Dealer met in MP
Dealer meet in Kurg
“Over my career, I conducted over 1000 dealer meets across India, reaching even the most remote regions from Kashmir to Kanyakumari. I visited all seven northeastern states and all southern states. Our dealer meets were highly anticipated, and new product launches consistently increased sales. I adopted a mentorship approach, educating dealers about emerging technologies and industry trends.
dealer meet in Haryana
dealer meet in Banglore
“Imparting knowledge to our employees and dealers could be frustrating at times. Many needed a genuine interest in learning about technology and product features. This was particularly evident when we introduced solar products. Educating our team and dealer network about this emerging technology was a significant challenge. It required persistent effort, patience, and innovative training methods to overcome these obstacles.”
dealers to meet at the factory
dealer in Kerala
“Conveying the intricacies of solar technology to our employees and dealers was a formidable task. Despite our efforts, many remained unfamiliar with solar energy, even today. I believe we fell short of our goal in educating our team and dealer network to the desired extent. Unfortunately, our competitors often poached our talented employees. However, I take pride in having trained numerous individuals who now contribute to the solar industry. It is gratifying to see them succeed and acknowledge the value of my mentorship.”
Dealer meet in Mumbai
“Through extensive experience conducting dealer and distributor meets, I gained valuable insights into the mindset and motivations of these individuals. Recognizing my expertise in this area, I began receiving requests from multinational companies to train their employees in distribution channel management. This marked a significant milestone, validating my ability to share my knowledge and experience with a broader audience.”
dealer meet at the Baddi factory
After conducting several training sessions for multinational companies, I realized that I had become a recognized expert in distribution channel management. I am currently searching for old photographs from my dealer meet days, which I will share once I find them. I began conducting these meetings in 2003 and continued this practice until 2017, witnessing a gradual improvement in their effectiveness over time.”
dealer meet in nasik
dealer meet at the Su-kam office
Dealer meet at UP
Creating dealer meets and incorporating comprehensive product training were instrumental in establishing the Su-kam brand. At the time, I underestimated the significance of product training, often focusing solely on providing schemes and securing orders. However, I soon realized that conducting effective product training was a formidable challenge but a highly rewarding endeavor. Through these training sessions, I was able to build not only the Su-kam brand but also my brand “Kunwer Sachdev.”
Key takeaways from this story:
The Power of Product Training: Su-kam’s unwavering commitment to product training was a key differentiator in the market. Su-kam built a strong brand and customer base by empowering dealers with knowledge.
Building Relationships: My involvement in dealer meets fostered solid relationships and trust within the Su-kam network.
Adaptability and Resilience: Despite facing challenges, Su-kam demonstrated adaptability and resilience throughout its journey. The company’s ability to learn from its experiences and pivot when necessary was crucial to its success.
Mentorship and Legacy: Even after Su-kam’s bankruptcy, Kunwer Sachdev’s legacy of mentorship continues to benefit the industry. His experience and expertise are valuable assets for companies like Su-vastika.
In essence, Su-kam’s success story is a testament to the power of practical product training, strong relationships, and a commitment to continuous learning and improvement.
I hope to share my insights and experiences in a book about building a successful distribution channel.”
Beyond the Product: Su-kam’s Distribution Strategy
What personality trait in people raises a red flag with you? The dangerous personality trait you need to know about might surprise you.
Here are a few examples:
Manipulative behavior: Individuals who consistently try to control or exploit others for their own benefit often raise concerns. This may be linked to the dangerous personality trait you should be aware of.
Extreme narcissism: Individuals with an inflated sense of self-importance and a lack of empathy can be difficult to interact with, often linked to the dangerous personality trait you need to know about.
Aggression or violence: People who exhibit aggressive or violent tendencies pose a threat to themselves and others, showcasing the dangerous personality trait you need to stay aware of.
Lack of empathy: Individuals who seem incapable of understanding or caring about the feelings of others can be emotionally distant and insensitive. It’s important to note that this lack of empathy can be related to the dangerous personality trait you need to know about. It’s important to remember that these are generalizations, and not everyone with these traits will be harmful. However, they can be red flags that warrant caution and further assessment in interpersonal relationships.
There are people who talk of them being religious and talk about how much they believe in God and they are fearful to God and don’t do things wrong. They are afraid of God. The dangerous personality trait you need to know about is often hidden behind this facade of religious piety.
Once a person shows these traits my personal experience is that they are the people from whom I should be cautioned. As most of them were the ones who were most dangerous people I realised later on. This is precisely why the dangerous personality trait you need to know about can be so deceptive.
If you believe in God and you are afraid of God then this is your belief and if you want to show this off to people so there is a catch. about may often involve hiding behind strong beliefs to manipulate or control others.
I have come across various employees, suppliers, distributors, and some little-known friends who had these traits and I always made a mistake in gauging these people. Unfortunately, this mistake often led me to overlook the dangerous personality trait you need to know about.
Deceptive Facade: Some people use strong religious beliefs to appear trustworthy, hiding a potentially dangerous personality trait you need to know about.
Personal Experience: You’ve encountered people who seemed devout but later revealed harmful traits, demonstrating the dangerous personality trait you need to know about.
Focus on Actions: Religious expression isn’t the issue. Pay attention to a person’s actions, not just their words, to identify the dangerous personality trait you need to know about.
As the founder of Su-kam, I was always seeking innovative solutions for rural communities challenges. A pivotal moment came during a meeting with Mr. Rohtas Mal, then Managing Director of Escorts. Mr Mal proposed a groundbreaking idea: a tractor inverter that could be mounted on existing tractors powered by their own batteries. This ingenious concept offered a practical and sustainable solution to the persistent power shortages plaguing rural areas.
Revolutionary Tractor Inverter: A Game-Changer for Rural Areas
Intrigued by the potential impact, I assembled a specialized team of engineers. The inverter had to be efficient and robust enough to withstand the harsh conditions of rural environments. Collaborating closely with Escorts Tractors, we developed a product that could seamlessly integrate with their existing models.
Revolutionary Tractor Inverter: A Game-Changer for Rural Areas
The result was a revolutionary tractor inverter, IP67 compliant for protection against water and dust. By connecting the tractor’s battery, farmers could access reliable power for their homes and fields, even in remote locations. This project was started in our Research and Development, and two engineers worked on it for almost six months to make it a workable model, as many changes were required during trials. What challenges we thought about and what came out practically were different. Handling the battery in various conditions was the major challenge, so the battery life was not compromised, and the back time from the inverter was also achieved.
The tractor inverter became a game-changer for rural households. Farmers could now use their tractors to power lights, fans, and other essential appliances in their homes, improving their quality of life. In their fields, the inverter enabled them to operate irrigation pumps and other agricultural equipment, boosting productivity and crop yields. The impact was profound, as it provided a reliable and affordable power source for communities that had previously struggled with frequent blackouts and limited access to electricity.” We developed one model initially, and the two models were in waiting; we sold more than 2000 pieces, and they worked well for Escort’s one of the tractor models.
Key additions:
Benefit: The Inverter fitted in the Tractor helped the farmer connect his household when he was back home to get power without adding any additional Inverter battery or Generator. As everything was fitted into his tractor itself, he was to just plug in a wire in a designated plug area.
Impact on productivity: Farmers had small fans and lights to run on the fields at night, or sometimes they needed fans to rest and eat lunch, and there was ready power in their tractors, as power was a big challenge in the farming sector at that time.
Improved quality of life: The money-savings and ease of having a power backup at home and in the field make them confident in having a 24-hour power backup.
If one has to come out of a failure, then the most challenging side is to accept the failure and accept the situation that I have failed.
The Journey of Transition: From Business Mogul to Entrepreneur
Once that acceptance is done, half the job is done, as most of us take much time to accept that we have failed. The world felt like it had crumbled beneath my feet. Su-kam, the company I’d nurtured for over three decades, had fallen into the abyss of bankruptcy. It was more than just a business loss; it was a personal identity crisis. For years, I’d been known as “the Su-kam guy.” People saved my number under that label. Without it, who was I? It took over a year to accept this failure as a fact of life. Once I accepted this failure in my mind and in front of the world, my new life started afresh.
From Business Mogul to Entrepreneur: A Second Chance
With my Friend Ashok Anand
Next is to get in the mode of a New Idea:
The initial shock was paralyzing. I was adrift, a ghost in the world I had once dominated. The luxuries I had grown accustomed to—the chauffeur, the extravagant dinners—were suddenly distant memories. I had to learn to cook, order my own groceries, and navigate public transport. The transition was humbling but also a necessary step towards healing.
The Journey of Transition: From Business Mogul to Entrepreneur
As I adjusted to my new reality, I started seeing opportunities. The solitude forced upon me was a blessing in disguise. Without the constant distractions of meetings and phone calls, I had the time to reflect, learn, and grow. I delved into digital marketing, taught myself WordPress, and even rediscovered a long-lost passion for cooking.
While sifting through old files one day, I stumbled upon a notebook filled with product ideas and sketches. It was a time capsule from a different era, a reminder of my entrepreneurial spirit. Inspired, I began exploring these ideas, refining and adapting them to the changing market.
The process of developing new products was challenging but also exhilarating. I faced countless obstacles, from securing funding to navigating the complex patent application process. But with each hurdle I overcame, my confidence grew. I learned to embrace the unknown and to see failure not as a dead end but as a stepping stone towards something greater.
During this time, I realized the importance of community and support. I contacted old friends and colleagues, sharing my story and seeking their advice. Some offered financial assistance, while others provided emotional support. Their kindness and generosity were a lifeline during a difficult time.
As I continued to work on my new ventures, I began to feel a sense of purpose returning to my life. The loss of Su-kam had been devastating, but it had also forced me to confront my fears and limitations. In the end, it was this journey of self-discovery that led me to a new beginning.
Our newborn Babies
Next is to ask for Help.
As I navigated the treacherous waters of bankruptcy, I realized I couldn’t do it alone. The weight of legal battles and mounting expenses was becoming overwhelming. With a heavy heart, I reached out to my friends and family, sharing my struggles openly.
Their response was overwhelming. They offered words of encouragement, financial support, and valuable advice. Some suggested new lawyers, while others connected me with potential investors. The emotional support I received was invaluable. It reminded me that I wasn’t alone in this fight.
Of course, not everyone responded the way I hoped. A few friends seemed distant, their calls going unanswered. Initially, I interpreted this as rejection, a sign that they were distancing themselves from me in my time of need. But as the days turned into weeks, I realized that my fears were clouding my judgment. Many of those who seemed aloof eventually reached out, offering support.
It was a humbling experience, but it also taught me a valuable lesson about human nature. When facing adversity, it’s easy to become consumed by self-doubt and see rejection where it doesn’t exist. By acknowledging my biases and seeking help from those around me, I overcame these challenges and found the strength to rebuild my life.
Unraveling the Su-Kam Saga: A Detailed Look at the IBC
Why are Fair Value and Liquidation Value Determined under the IBC?
The Insolvency and Bankruptcy Code (IBC) of India mandates the determination of Fair Value and Liquidation Value for a comprehensive understanding. This article, Su-Kam Saga: A Case for Rethinking the IBC Explained, delves into the intricacies involved. Unraveling the Su-Kam Saga: A Detailed Look at the IBC
Unraveling the Su-Kam Saga: A Detailed Look at the IBC
These values serve several crucial purposes:
Informed Decision Making:
Creditors: The fair value provides creditors with a benchmark to assess the viability of potential resolution plans and determine the appropriate level of recovery.
Resolution Applicants: Knowing the fair value helps potential buyers evaluate the asset’s worth and structure their bids accordingly.
Transparency and Accountability:
Determining fair value and liquidation value ensures transparency and accountability in the insolvency proceedings. It prevents undervaluation or overvaluation of assets, safeguarding the interests of all stakeholders.
Valuation Benchmark:
The fair value and liquidation value serve as a benchmark for comparing with the resolution plan’s offer price. If the offer price is significantly below the fair value, it raises concerns about the resolution plan’s adequacy.
Efficient Resource Allocation:
By determining the fair value, the IBC facilitates the efficient allocation of resources. It helps ensure that the assets are sold at their actual market value, maximizing the recovery for creditors.
Now, here is a catch: If the valuation is done without the knowledge of a promoter, then why not link the promoter and COC based on the Fair value first? If the company is running, then only one can get a fair valuation of the company.
Unraveling the Su-Kam Saga: A Detailed Look at the IBC
The balance between the Promoter Guarantor and the Creditors needs to be balanced. In most cases, the promoter is the personal guarantor of the Corporate debtor, and he is the one who is going to get the brunt of the Insolvency proceedings. First, his company will be taken, and then his personal assets will be taken for the personal guarantee. COC has no responsibility for the fair valuation as they can sell the company to the 1% of the fair valuation as there is no answerability on the part of the COC and promoter after giving the company and his life earnings have no role to play. He can only sit in one corner and see his company, which he built with sweat and blood, ruined before him. The banks make him a willful defaulter and fraud without any basis. Creditors are free from any responsibility as the promoter can not bid for his own company under sec 29A, and the COC can sell the company at any value, no questions asked. Was this the legislature’s intent when defining the IBC Law? I feel the Lawmakers need to interfere here and amend the law by making the valuation process a basis for the Promoter’s integrity or conduct. He should be responsible for paying the balance amount as the personal guarantee after using the fair value as the fair value, although done without his knowledge, should benefit the promoter as he was responsible for creating that much value when the company was taken under the NCLT. I provide an example of Su-kam, which used to be owned by me and was taken over by the COC and RP in April 2018. The moment they took over the company, which was a running company doing 500 CR revenue, and had they done a fair valuation, the company would not have been more than 500 Cr then. But they did the valuation and got two valuations, which were nearly 300 Cr. Now, they ran the company for one year, took further credit from the market, and closed down the company after one year. After closing the company, they kept making legal and other management expenses, did not give the money to the security agencies, deposited the electricity bill for locations in different areas and had a lot of thefts on all the premises. Under the approval of COC, the liquidator sells the company in the Corona period, and the banks get a mere 8 Cr. What kind of a system is this? I was ready to give 250 Cr with the help of the Kotak bank, and they wanted to punish me for that. But what a loss and shame for the nation that the company is sold at a mere 49 Cr. Employees lost their jobs, The suppliers lost money, and two of the suppliers went to the NCLT because of the fall of Su-kam. Dealers and distributors saw the brunt as there was no service support. Customers were left crying as the liquidator ensured no communication number was left in working condition and no person was left to take the calls and tell them the truth. All the market knows is that the company was closed by Mr Kunwer Sachdev as he was the owner, and all the calls got diverted to my mobile number with a lot of anguish from dealers and customers. One can imagine that in one day, there used to be 700 calls for the service, and all these calls were stopped. If the company was destroyed at this level, who would be responsible? Who benefits from this situation? The liquidator and the new buyer of Su-kam. Who acquired properties worth 300 Crore and the brand of Su-kam free of cost, and COC, which was the supreme power, let this happen. But now, if this has happened and the promoter has suffered. The promoter has to go through the personal insolvency process as he will be humiliated again in the newspapers and take all the properties left in his name. The story does not end here as the next is the Promoter having an avoidance application going on in the NCLT, which is now taken over by the new owners of Su-kam, who got the knife in their hand to cut the promoter. COC comes after the promoter’s assets under personal insolvency. The CBI cases and ED cases will never be stopped. So, the outcome of this IBC law is the destruction of entrepreneurship in India. The next generations who have seen things happening to us dare not take risks in life and play the safe game. The tale of Su-Kam is a cautionary one. It highlights the challenges promoters face in the maelstrom of insolvency proceedings. It raises questions about the balance between protecting creditors’ interests and ensuring fair treatment for promoters. And it underscores the need for a more nuanced approach to insolvency, one that considers the broader implications of corporate failures and their impact on individuals and communities.
Unraveling the Su-Kam Saga: A Detailed Look at the IBC
Unraveling the Su-Kam Saga
Unraveling the Su-Kam Saga: A Detailed Look at the IBC. This blog offers insight into the intricate details surrounding the Su-Kam saga, providing a detailed look into the IBC process.
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