“Pessimists spend a lifetime waiting for perfection while finding imperfections in everything. Entrepreneurs commit to something imperfect and spend their lifetime perfecting it.”
“There is no opportunity in our country” a common dialogue popular among youths with frustrated mind. Due to the lack of opportunity our country is losing many masterminds entrepreneurs every year who has potential to start a new venture and who can be successful. But the country is satisfied with the remittance inflow which is not a happy thing to celebrate. Despite of this, there are still some people who are following the entrepreneurial culture and starting their venture along with the risk. There are many youths in the country who can compete globally and are listed in the Forbs Asia “30 under 30” edition of 2017.
As we know Nepal is a landlocked country and is in the phase of developing. So, it has to depend on many different countries for the import of goods and services. Here many people and their business has struggled a lot for gaining the popularity and success because of which they are in today’s position. For the success of any business the entrepreneurs sometimes have to go out of the comfort zone to find the possibility of success in business. They have to face many dilemmas in pursing their dream, passion and opportunity which leads them to entrepreneurial journey. Many people are afraid to take their first step although they have great entrepreneurial idea and knowledge about the startup.
But once you know about the idea and destination it will be more interesting and joyful while taking different new steps in the journey. Each step makes you stronger and generates ideas for next step which takes the business to the long way. Different experiences, knowledge, ideas and expectations helps in achieving the success. Inspiration, expectation, Assessment and exploring resources, business plan, navigation and launch are the major steps in the success of any startup. Let’s talk about the top five businesses and the struggle of entrepreneurs during the journey. Let us talk about some of the top business and struggle of entrepreneurs in starting the venture and the reason why they are in the top position today. The names of some successful business organizations are listed below:
Khetan group The journey of Khetan group started by supplying rice and salt to the Nepali soldiers and it also started to import fabrics from the India. It was before 170 years when a person name Kishun Ram Khetan founded this group. Later on kishun ram’s son Bihari Lal Khetan established it. Khetan expanded their business by stepping into various industrial and business sectors. It also expanded its business by exporting jute and lentils to different countries. With the joint venture with Danish multinational company Carlsberg Breweries it started Gorkha Brewery which is one of the successful milestones for this company. Later on the group stepped into Himalayan bank limited, Everest insurance company, Laxmi bank limited, prime life insurance, Nepal Air charter services. The group also expands its business by entering in the snacks production Snax and Noodles Company in a joint venture with Thai Presidents Foods. Now the net worth of this corporate house is Rs 50 Billion with annual revenue from shareholder fund of Rs 3 billion.
Unilever Nepal The journey of Unilever Nepal started in 1992 with the production of detergent, cleaning powder, toothpaste and soaps. It setup a factory in makwanpur district, Hetauda with the initial investment of 73.65 million. It started exporting its product from 1995 and started making profit from the third year of the production. Now over 35 brands and more than 20 categories including soaps, shampoos, toothpaste, foods, beauty things and many more it gains the consistent, competitive, profitable and responsible growth. Now it has been one of the top businesses in Nepal by providing employment to more than 200 people directly and fulfills the needs of many people. It has become one of the leading markets in all operating categories in Nepal. Now nine out of ten household uses the unilever product daily to grow themselves and helps to provide bright future to many peoples.
Coca-Cola The Coca-Cola was introduced in the Nepalese market by importing it from the India. The bottlers Nepal held the license procured from the Coca-Cola since 1968 but it was not manufacturing it locally. It was introduced in 1973 and has two bottling plants one in Kathmandu and one in Bharatpur. In 1979, steel city beverages signed a contract to provide technical and managerial support to produce the Coca-Cola. It has provided employment to more than 500 people in the manufacturing plant. It imported the required equipment such as filter, mixture from West Germany while other from New Delhi. Now it has become one of the successful businesses in Nepal and has already celebrated 132 nd anniversary. The drink is unique in itself and people all around the world enjoy it. It has become one of the most important drinks in every celebration. Now the company has also focused on various social works as well.
Chaudhary Group One of the leading business groups in Nepal, Chaudhary Group started its journey way back during the Rana Regime. Mr. Bhuramlal Chaudhary laid the foundations of Chaudhary group through a shop named as Bhuramlal Lunkarandas that dealt with textiles. After the demise of founder, his son, Lunkarandas continued the journey. He started to diversify the business activities with the investments in export of jute from Nepal to USA and Europe, import of textiles from Japan and Korea. Similarly, some of the investments of Chaudhary group back then were in Modern Hosiery Industries Pvt. Ltd., Nepal Spinning, Weaving and Knitting Pvt. Ltd. and Ratna Stainless Steel Pvt. Ltd. Having witnessed the Industrial revolution in Nepal, the group has continued their journey with huge contribution in the development of national economy. Over the span of 67 years, Chaudhary group has invested in sectors such as Biotech, Cement, Education, Electronics and White Goods, Energy and Infrastructure, Financial Services, FMCG, Hotels and Resorts and Realty.
Entrepreneurship was developed way before it was coined a specific name. In case of Nepal, entrepreneurship seems to have started during the Rana Regime. The above listed companies as well as other organizations have started their journey with a small investment and targeting a specific sector in the beginning, which were later diversified as per the demand of the market. Every organization has to go through different phases of struggle, failures and success. It is the drive that makes corporations to leave a footprint in the society. Today’s entrepreneurs can learn that there is no shortcut to success; it takes patience, motive and proper understanding of market and other factors in order to thrive.
References: i. Elka Torpey and Brian Roberts(May 2018), “ Occupational outlook for self- Employed workers” ii. David Pridham(2018), “Entreprenuers:Here’s good news for 2018” iii. Hriush Adhikari(2016), “Report on Quality control of food products of chaudhary group Nepal” iv. Dimo Dimov and Jeffery s. McMullen(2013),“Entrepreneurial opportunity and entrepreneurial journey” v. Ak Yetisen, LR Bob Volpatti, SH Yun, AF Coskun(2015), “Entrepreneurship”
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